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Hull Coatings Manufacturer Issues 126,000 Carbon Credits

Ship hull coatings manufacturer Akzonobel has issued more than 126,000 carbon credits – worth more than US $500,000 – to 16 ships, enabling the reduction of more than 4,000 tonnes of annual carbon emissions.

Developed in conjunction with the Gold Standard Foundation and the Fremco Group, the carbon credits scheme rewards ship owners who have converted the hull of their ships to carbon and fuel-saving Intersleek coating, an Azkonobel hull coating product.

The 16 ships were subjected to rigorous assessments, which verified fuel consumption data through an independent auditor in order to receive a share of 126,785 carbon credits, equating to 1,250 tonnes of fuel reduction.

So far, the company estimates the coating has reduced 17 million tonnes of carbon emissions annually across the full fleet of 4,500, based on an average 10% CO2 savings recorded in the first carbon credits issue.  This represent around 1.5% of global emissions from shipping, estimated by the 3rd Greenhouse Gas Study.

Oscar Wezenbeek, Managing Director of AkzoNobel’s Marine Coatings business commented: “This is a tremendous moment both for AkzoNobel and the customers involved. With the carbon credits program, we are demonstrating leadership and innovation in driving sustainability.”

Intersleek Business Manager and Manager of the Carbon Credits Programme, Trevor Solomon, commented: “We have long known that our Intersleek coatings can contribute to reducing carbon emissions from the shipping industry. With the award of the first carbon credits, we now have independent validation and verification of those fuel and emission savings by respected auditors and the Gold Standard Foundation.”

AkzoNobel will now discuss the sale and offsetting options of the carbon credits with the enrolled ship owners.

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