Maersk Tankers nominated for EY Sustainability Award with green tech business Njord
Feature
Shipping accounts for nearly 3% of the world’s CO2 emissions. Decarbonising the industry is a pressing issue for shipowners who need to find ways to sail with greater efficiency and lower environmental impact.
The condition of a vessel’s engine, the type of paint on its hull and the use of electricity onboard are just some of many factors that affect fuel and energy consumption at sea. Fortunately, there are a lot of technologies proven to work that can help owners optimise energy consumption – but take up is too low because selecting and financing the right technologies can be difficult. Maersk Tankers started the green tech business Njord to address this problem.
“Njord is part of Maersk Tankers’ work to pioneer and scale solutions that create value for shipowners and decarbonise shipping,” explains Morten Mosegaard, Chief Financial Officer of Maersk Tankers. “We founded the business to leverage Maersk Tankers’ knowledge on technical solutions and vessel optimisation from tanker shipping and apply it industry-wide, across all shipping segments.”
A unique approach: the right combination of technologies
The Njord team of mechanical engineers and naval architects identifies how to curb the emissions of each vessel, taking into account its technical and trading profile rather than its constituent parts, which is more common industry practice.
They then design, devise and install an energy-saving package, taken from Njord’s portfolio of 30-plus technologies. This spans hull retrofits, and technologies for engine optimisation and power management, from the size of an LED light bulb to a 30-metre Rotor Sail.
“These technologies must be correctly combined to maximise the reduction in emissions and minimise the pay-back time of the investment,” explains Frederik Pind, Managing Director of Njord.
“For shipping to decarbonise at the speed required, solutions must address financial and environmental concerns. Njord does both and therefore has the potential to act as a catalyst for technology adoption and decarbonisation across the industry.”
On average, Njord services cut CO2 emissions by 7 to 16% per ship – and up to 30% using more cutting-edge technologies.
Gaining traction
Njord was created in partnership with shipping giants Cargill and Mitsui & Co. It went to market in early 2022 and is gaining ground in the container, tanker, bulk and gas vessel market.
More than 50 customers are already signed up to Njord, a number that is expected to increase in the coming years. Currently, solutions are being installed on some 40 vessels.
Maersk Tankers has been nominated along with eight other Danish companies in the Innovation category. The award will be made to a company with a particularly innovative sustainability project, which has measurable results and impact. The winner will be announced on 14 September in Copenhagen.
About Maersk Tankers
Maersk Tankers is a service company that provides commercial management solutions for shipowners in the tanker industry, operating one of the largest tanker fleets in the world. Our purpose is to pioneer shipping solutions for our partners and the planet. Founded in 1928, we have a century of expertise in management of tankers, which we use to develop and deploy solutions that help shipowners boost the economic and environmental performance of their vessels. Maersk Tankers employs approximately 300 employees in Denmark, Singapore, India and the U.S. and is headquartered in Copenhagen, Denmark.
About Njord
Njord is a green technological business founded by Maersk Tankers, which aims to accelerate cost-effective and industry-wide greenhouse gas reductions. Njord helps shipowners and charterers in container, bulk, tanker and gas shipping to become more efficient by offering advisory and technical solutions that help shipowners cut emissions. It offers a full-service package, including screening for potential, designing the solution and assisting owners with the installation of energy-saving devices as well as measuring the performance of the technology. The business was brought to market in 2022 and has seen rapid growth; it has worked with more than 50 owners to date.