Can the Green Approach to Shipping be Profitable?
In recent times, growing concern about the state of the world’s oceans and the impact that shipping has on quality of the air has led to ever more legislation on emissions.
As such, the Institute of Marine Engineering, Science and Technology (IMarEST) and Colfax Fluid Handling, a developer of pumps, systems and smart technology solutions for the marine industry, are working together to investigate perceptions of the ‘Green Agenda’ and whether shipping companies can benefit from investing in green initiatives.
“The ‘Green Agenda’ attempts to ameliorate the problems by introducing equipment, products and operating procedures that reduce these emissions but sometimes can come at a cost to owners, operators and often the end users of the goods carried by sea. But can the green approach actually be profitable?” asked John Barnes of the IMarEST. “With fuel being the most expensive item in a ship’s operating costs and the main polluter of the air, any reduction in consumption brings a financial as well as environmental benefit. It can also be a positive in relationships with shippers who are themselves demonstrating environmental concerns.”
The survey will stay open over the next four weeks and asks questions about whether investing in green initiatives is important to organisations, does it impact business, should companies be actively investing further in green initiatives, and, can these investments actually offer good value for money?
“We are determined to find out what the industry really thinks about these issues, and invite all at every level to complete the 14 questions” continued John Barnes. “We will be publishing the results, and early indications will also be made available to those participating in a ‘Making the Green Agenda Pay’ roundtable which we’re running with our marine partner, Colfax Fluid Handling”
Ben Martin, Director of Global Marketing at Colfax Fluid Handling added, “We are really interested in learning what the industry thinks about the ‘Green Agenda’. Listening to our customers helps us respond with solutions that can make their businesses more successful. It’s exciting to think there may be opportunities to turn green initiatives into profitable activities. Your opinions can really make a difference. Please air them!”
The ‘Making the Green Agenda Pay’ roundtable will be Chaired by Richard Vie, Vice President of Technical Development and Quality Assurance, Corporate Shipbuilding, at Carnival Corporation & plc, with it taking place in October.