A lot of efforts are being made to ensure that the future of the international shipping industry is stable and impervious to any volatility prognosticated. One such important endeavour is the Sustainable Shipping Initiative (SSI).
Launched in the year 2010, the SSI is the coming together of the major players in the international shipping sector. This includes not just shipping companies but also organisations which have pledged themselves to ensure an environmentally safer, sounder and viable shipping industry.
Each party to the initiative contributes in the specific area of interest pertaining to the party. For instance, conglomerates like BP, Maersk and IMC offer expertise relating to the operation viabilities of the initiative while ABN Amro offers the support of financial expertness required.
The initiative has been launched in four levels which can be detailed as follows:
- Level I: The first level of the SSI was launched in May 2010 with an objective to understand and gain knowledge about the potential challenges to be faced by the marine sector in the coming few years. Through the knowledge gained, a case for action has been sought to be implemented which would allow for a thriving marine sector in the future.
- Level II: Referred to as Vision for 2040, the second level in the green shipping initiative is its most important platform. By assimilating the knowledge gained about the threats to the marine industrial sector, a detailed plan has been developed which seeks to enforce the applicability of marine sustenance by the prescribed year. Vision for 2040 was launched in October 2011.
- Level III: This level involves the proactive materialisation of the objectives prescribed in the Level II model. This level will be launched in the year 2012.
- Level IV: This level, expected to be launched in 2013, involves the coming together of all the affiliated parties to the initiative to bring about the desired objective of maritime industrial sustenance to active fruition.
Vision for 2040
According to statistics, it has been revealed that the marine cargo transference and transportation contributes to about 90% of the economy worldwide. On account of this valuable nature of the industry and after due consideration of the threats and challenges posed to the sector, major international marine conglomerates have come up with the Vision for 2040 program.
As per the directives and objectives of this program, the following are sought to be met by the pre-determined year:
– Incorporating environmentally viable resources in lieu of those that cause extensive damage to the marine environment
– Establishing a better and highly standardised job society so as to encourage participation from people to be a part of the marine sector
– Providing valuable financial infrastructure
– Offering a better and resounding clarity in the business working modules
– Ensuring a continued effort towards the sustenance of the marine areas
In order to attain the aforementioned objectives, the sustainable shipping initiative venture has identified four main areas that it seeks to focus on. These four areas, referred to as ‘work streams’, can be elaborated as follows:
- The primary work stream where the green shipping initiative seeks to focus is about ensuring faster financial aid and assistance to the shipping sector. By narrowing down on the prevailing financial modules and by coming up with better ideas that will make the procuring of finance easier for required technological systems, the work stream objective is expected to be fulfilled.
- The next work stream, to be launched in parallel along with the aforementioned work stream, is about gaining a thorough understanding of the components required to build ships. Through the gleaned information, it will be sought to incorporate only those components which offer high rate of vessel efficiency and longevity.
- The third work stream is all about bringing a uniformed platform to ensure that the objective of sustainability of the marine industry is maintained all over, internationally.
- The final work stream deals with the aspect of betterment and enhancement of technology in the maritime sector. By allowing for strategic teaming, it will be sought to ensure that those technological methodologies which offer high rate of ecological sustenance are incorporated in the key research and development areas.
Post the setting of objectives for the Vision for 2040, a regular monitoring of the performance of the same has also been initiated. Through such an endeavour, it has been made possible to ensure that the program viability does not face any problems.
Shipping companies have taken a whole-hearted interest in this initiative which projects their desire to look beyond the basic motive of generating profits to a world that amplifies long term ecological soundness.
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References: forumforthefuture, breakbulk
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