Consortium parties after signing the agreement

Consortium parties after signing the agreement

Zaitoun initiates a new consortium

The new initiative aims to increase shipping efficiency, consider environmental protection whilst prioritising technological capabilities and profit commitment

October 2018

Dubai-based Zaitoun Green Shipping has initiated, together with world leading companies in smart technology and solutions, a consortium to collaborate on radically improving performance of container ships and forming a new business model for this market.

The consortium consists of the top international industry key players such as MacGregor, Mitsubishi Heavy Industries Marine Machinery & Equipment, Wärtsilä, Winterthur Gas & Diesel Ltd, Gaztransport & Technigaz (GTT), WIN GD, CargoTech and Carinafour, said a statement from the company.

Global container shipping business is suffering from weak economic and ecological performance.  One of the main reasons for this is that the expertise is fragmented into networks and the industry’s general operating models hinder utilisation of best practices in newbuilding projects and designing of new containerships, it said. The ecological footprint of shipping industry is substantial and International Maritime Organization (IMO) and many local authorities have enforced several new rules in last years to restrict emissions, it added.

At the same time the investments are mostly driven by capital expenditure rather than considering  ship operations and earning capability over lifecycle.

The majority of shipping lines are delivering results that are mediocre, at best. The systems on board are not used correctly leaving value in use uncaptured and many processes are outdated.

The industry has come to a point where it must change and adopt new technologies, processes and operating models in order to cope with both commercial and ecological challenges. The new consortium is committed to drive for new business models and ensure ecological and profitable operations.

Engineer Mohammed Zaitoun, president and CEO of Zaitoun Green Shipping, said: “I have witnessed the current industry problems whereas mainly cargo owners are tied to existing ecosystem. That’s why I thought about developing a consortium of the main industry key players which will promote efficiency by taking a whole-ship approach and working forward to producing the most economical and environmental friendly vessels.”

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