Dubai-based Zaitoun Green Shipping emphasised the significance of shipbuilding efficiency at the Gulf Intelligence Energy Market Forum, which was held from September 30-October 1.
The forum theme was‘IMO2020 - Megatrends and the Energy Transition', and was held under the Patronage of His Highness Sheikh Hamad Bin Mohammed Al-Sharqi, Member of the Supreme Council and the Ruler of Fujairah, UAE.
Eng.Mohammed Zaitoun, CEO of Zaitoun Green Shipping and the president of the International Maritime Consortium said: "We are moving rapidly towards the IMO2020 and the shipping industry needs to keep up its pace to align itself with the new regulations and the future. There is a call for change that needs to be addressed in the industry; more ship owners and decision makers need to diversify their business models to stay ahead of the curve, maintain their sustainable growth and preserve their continuity in the market."
He added that consumers need to be aware of the technicalities of the ships they are purchasing including high standard ship building processes, and efficient and profitable assets. "At Zaitoun Green Shipbuilding, we aim to be among the few who stay ahead in the market through creating high utilisation eco-efficient vessels," Zaitoun noted.
According to market research, LSFO (Low Sulphur Fuel Oil) is priced around $200-300 per barrel. Zaitoun added: "Ships are responsible for more than 18% of some air pollutants. Therefore, there is need to change the ships that are being built to be more sustainable and proactive towards environmental compliance. According to a report from the European Union, international shipping contributes to 2.5% of global greenhouse gas emissions annually, and it is predicted to rise between 50% and 250% by 2050.”
Zaitoun Green Shipping has contributed to the construction of the world’s greenest and most efficient Ultra Large Container Vessels, WHICH went on to produce countless TEU (Twenty-foot Equivalent Unit) records and resulted in 60% lower CO2 output per TEU compared to larger container vessels existing in the market.