In its progress report, entitled "a case for more action", SSI announced the Save as You Sail financial model, a mechanism aimed at overcoming the split incentive issue where shipowners are faced with the whole burden of financing retrofits that benefit other stakeholders.
The scheme will bring together charterers and owners to discuss upgrade options and subsequent fuel savings, and have those fairly reflected in the charter rate. The shipowner will have access to third party financing for retrofits, with ABN Amro already offering a one to two ship pilot scheme for the project.
SSI also hope to remove another barrier to retrofitting by streamlining and strengthening the evaluation process for energy saving technologies, creating strong evidence bases to support projected fuel savings.
A pilot scheme on closed-loop materials management, aimed at promoting the verifiable recording of materials used in building a ship, managed to account for 96% of the materials used in the construction of two new ships. It is hoped that such records could increase a ships value and lead to more effective reuse and recycling of materials.
The report also announces SSI's new online tool for charterers and cargo owners to select the ship rating scheme best suited to their needs. The work stream's next steps are to promote adoption of the schemes and work towards the ideal scheme for the shipping industry.
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