AkzoNobel Presents Neda Maritime First Award Under Carbon Credit Programme

AkzoNobel awarded the Neda Maritime approximately $60,000 in carbon credits for converting its tanker vessel Argenta from a biocidal antifouling.

Akzo Nobel N.V. (AkzoNobel) Wednesday announced that it has awarded 13,735 carbon credits - valued at approximately $60,000 - to Greece-based shipping operator Neda Maritime Agency Co Ltd (Neda Maritime) for the converting its tanker vessel Argenta from a biocidal antifouling to a biocide-free advanced hull coating from AkzoNobel's Intersleek offering.

As Ship & Bunker reported in February, Akzo Nobel has issued 126,785 carbon credits, valued at more than $500,000, to ship owners who have converted vessels to a bunker-saving, biocide-free advanced hull coating.

With each accrued carbon credit said to represent the removal of one tonne of CO2 from the atmosphere, the AkzoNobel award suggests that Neda Maritime has successfully offset a total of 13,735 tonnes of CO2.

"We are extremely proud to be the world's first ship owner to receive carbon credits from AkzoNobel's initiative," said Costas Mitropoulos, Technical Director at Neda Maritime.

"As the shipping industry faces more pressure to improve its sustainability, we will also continue our commitment to further increase our environmental performance. We see AkzoNobel’s pioneering carbon credits initiative as a key part of our strategy to deliver a more sustainable, profitable and ultimately successful business."

Neda Maritime is said to be using the awarded carbon credits to offset other sources of CO2 emissions within other areas of its business.

"This is a landmark moment for AkzoNobel, Neda Maritime and the wider shipping industry," Oscar Wezenbeek, Managing Director of AkzoNobel's Marine Coatings business.

"It demonstrates how our carbon credits initiative can incentivize investment in more sustainable practices, accelerating carbon reduction within the shipping industry, and enabling owners to gain from operational, environmental and  bottom line benefits from clean technologies."

In April, AkzoNobel announced the launch of a new antifouling biocide, Intercept 8500 LPP, that the company predicts will "revolutionize" the biocidal coatings market.