AkzoNobel Announces More than $500,000 in Carbon Credits for Bunker-Saving Coatings

by Ship & Bunker News Team
Thursday February 25, 2016

Akzo Nobel N.V. (AkzoNobel) has announced the issuance of 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.

The credits have been awarded under the company's "landmark" carbon credit scheme shipping industry, developed in cooperation with the Gold Standard Foundation and the FReMCo Group (Fremco Group), which is said to reward ship owners who convert existing vessels from a biocidal antifouling coating to a premium, biocide-free advanced hull coating.

AkzoNobel says that, on average, the 16 vessels that were included in the scheme's first issue have each achieved fuel consumption savings of just over 1,250 tonnes and reduced vessel carbon dioxide (CO2) emissions by 4,000 tonnes per year.

"This is a tremendous moment both for AkzoNobel and the customers involved," said Oscar Wezenbeek, Managing Director of the Marine Coatings business at AkzoNobel.

"With the carbon credits program, we are demonstrating leadership and innovation in driving sustainability."

AkzoNobel says that, as more vessels continue to enroll in the scheme, it expects the number of credits to increase from the 126,785 credits recently awarded by the Gold Standard Foundation.

In October, Ship & Bunker reported that AkzoNobel had launched a new tool to help estimate the potential fuel and CO2 savings of fouling control coatings before they are applied.