Last week, the 16 members of the Sustainable Shipping Initiative gathered at the historic (and very hot) Fort Canning, Singapore. We were at Singapore Maritime Week to announce the practical actions we’re taking to make our Vision for a sustainable industry reality.

Building on 2011’s Case for Action and Vision 2040, we’re now entering the ‘nuts and bolts’ phase of the Initiative. Members are getting their hands dirty with four practical projects, looking at how Sustainable Shipping can be advanced through new approaches to finance, technology, ship recycling and transparency.

We were not the only people looking at sustainability last week, and there was a real buzz around some of the key issues at Singapore Maritime Week. As recently-joined member Eirik Nyhus (DNV) pointed out as we passed the harbour, an increasing number of ‘resting’ ships are testament to the incredible pressure that the economic downturn is placing on the industry. With fuel making up up to 60% of a ship’s operating costs, efficiency is not just about carbon, it’s about survival – so there’s a real appetite for new approaches.

What makes the SSI different is our collaborative approach. We’re bringing together the financiers, the technologists, the ship builders and owners, to think a little differently and come up with the new solutions that the industry needs. But the proof is in the pudding – we’re keenly aware of the need to deliver something tangible at the end of this phase in September 2013. In a conservative industry, this is going to be challenging. While it’s easy to get carried away with high tech solutions, Eskild Lund Sorensen of Maersk Line reminded us that the bulk of the world’s fleet doesn’t even have a fuel gauge – and if you can’t measure it, you certainly can’t manage it. So it’s going to be tough, but we’re confident that together our members make a great team, committed to delivering change.

Source: Forum for the future