Cargill, Mitsui and Maersk Tankers have launched their green technological solution Njord, which aims to accelerate cost-effective and industry-wide greenhouse gas reductions.
Njord brings shipowners, charterers, vendors and financiers closer together, helping to make vessels more fuel-efficient and reduce their greenhouse gas emissions.
Cargill, Mitsui and Maersk Tankers will use their combined technical and operational expertise to bring a full-service package to shipowners and operators. This is based on a combination of energy saving devices targeted at lowering vessel emissions.
An expert team will also assess the vessel’s optimisation potential, design the solutions required and help the shipowner and operators get these implemented, along with offering attractive financing.
Operators can choose all three or select only some of these services depending on actual needs.
Njord is part of our work to pioneer and scale solutions to decarbonise shipping – and it has the potential to deliver significant value to shipowners and the environment
believes Frederik Pind, Head of Decarbonisation at Maersk Tankers.
Njord was born in 2019 from a partnership between Maersk Tankers, Cargill and Mitsui, with each bringing their expertise and experience to the table.
Cargill provides access to its fleet and operational knowhow, while Mitsui offers a network within shipping stakeholders, access to the financial market and its experience in ship owning and ship building. Maersk Tankers combines its heritage as a tanker owner with managerial insight to offer solutions that enhance vessel performance.
The trio have spent the last few years testing both existing and new fuel-saving technologies on the large and varied fleet they jointly own, manage or charter.
We believe that energy saving devices will play a vital role not only as a short-term solution but also in a greener shipping world
states General Manager of Transportation & Machinery Business Div.IV, Mitsui & Co., Ltd., Kensuke Kubota.
Njord’s services can work in both tramp and liner markets. Depending on vessel size, trading patterns and installations, they have been estimated to reduce the yearly fuel consumption for a vessel by, on average, 7 to 16%.
The companies have now signed contracts with five owners and expects to enter more partnerships in the coming period.
In a similar development, Mitsubishi Shipbuilding established the Marine Decarbonation Business Development Group responding to the energy transition strategy promoted by MHI Group.
This new organization will use the advanced technologies accumulated by the company in order to accelerate technological development and new business creation in the marine decarbonization field, as well as respond to global trends and market needs to realize a carbon neutral world.
Earlier in January, Maersk announced new aspiring emissions targets expected to align the company with the pathway to limit global warming to 1.5°C. What is more, the company aims to achieve net zero supply chains to customers by 2040.
The targets go beyond previous efforts to reduce emissions related to the ocean fleet as they cover all direct and indirect emissions across the entire Maersk business.
