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New maritime sustainability initiatives launched

Image: Blue Sky Maritime Coalition blueskycoalition.jpg
This week has seen the launch of two new initiatives to promote sustainability in shipping and maritime during the Marine Money Week in New York.

A recently formed consortium to promote maritime sustainability, the Blue Sky Maritime Coalition, which saw its official launch through the online broadcast.  

This group, composed of shipping companies - Crowley, Moran and Kirby Corp are notable, large cargo interests including Shell and other stakeholders will focus on supporting decarbonization in the North American realm.

In a presentation to the online session, Ted Tregurtha, President of Moran Towing explained that the US and Canada are unique with equipment being long-lived, and unique sets of rules and regulations. He said that North America “would have to place greater emphasis on retrofits in order to make progress in an acceptable timeframe”.  

This coalition is worth watching; one of its stated aims is to implement real green projects involving vessels, but also regulators, equipment makers, and suppliers, in both the inland and coastal sectors, within a short-term timeframe.

Meanwhile Marine Money was involved in the creation and publication of the new “Marine Money Decarbonization Index”, which was introduced by its producers, John Kartsonas, Breakwave Advisors and long-time shipping banker Hal Malone, most recently with the Invesco/Wilbur Ross organisation.

The index, accessible on quotation terminals with its MMDI symbol, will track the performance of listed companies, on multiple stock exchanges, that have activities impacting maritime decarbonisation.

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