High on the agenda was decarbonization and the energy transition, and ways to address this challenge across the industry. Our VP Finance, Gustav Sannem, sat on one of the panels discussing funding and economics on this topic for deep-sea shipping, sharing insights on the work we have done for our own fleet and the impressive results this has yielded so far, as well as plans for new initiatives for further reductions in emissions.
“The value of being an integrated company providing all the services from commercial operation, technical management, crewing and strategic ownership, is very visible in our decarbonization efforts. We can make quick decisions and overcome many of the operational challenges with installing and getting the full benefit from energy-saving devices,” VP Finance Gustav Sannem shared with the ship finance community.
Sannem was joined in the panel by President Arlie Sterling (Marsoft Inc.), CEO Andreas Enger (Höegh Autoliners), CEO Anthony Gurnee (Ardmore Shipping Corporation) and Managing Director Frederik Pind (Njord/Maersk Tankers).
“Since 2014, Odfjell has installed more than 130 energy efficiency devices across our fleet, and our carbon intensity has been halved compared to the IMO 2008 benchmark. If you consider the improved earnings capabilities from the 50 percent AER improvement, it becomes very clear that focus on energy efficiency is good business.”
He also added a point on sharing the cost of this herculean transition:
“Our job as shipowners is to provide safe and reliable transportation of goods in the most efficient way, but we are not meant to fund the 2 trillion USD cost of the green transition. That has to be funded by every one of us, the end consumers.”
The Marine Money Week attendees included representatives from owners and operators, banks, investors, various advisors, and other lenders, and the week was filled with meetings and plenary conference sessions.
