AkzoNobel Marine Coatings won the prestigious Seatrade Asia Award in the ‘Technical Innovation’ category for its carbon credits program. The program has also recently won the Environmental Leader Award and Singapore Business Review Award for innovation.

Launched in 2014 in conjunction with The Gold Standard Foundation and Fremco Group, the program is based on ship owners converting existing vessels from a biocidal antifouling system to a premium, biocide-free hull coating such as Intersleek, part of AkzoNobel’s International range of marine coatings.

Commenting after receiving the award, Robert Wong, Marketing Director, AkzoNobel Marine Coatings, said: “We are honored to receive this prestigious industry award. The credit goes to the entire team for coming up with such a path-breaking program. We believe that the carbon credits program is a highly impactful initiative which can lead the industry towards sustainable shipping.”

AkzoNobel’s carbon credits initiative is not only a first for shipping, but it is also a first in the global transportation business. It is the only carbon credit generating methodology that has been approved for assets that move across national boundaries. It’s also a significant landmark for sustainability within international shipping and, in an industry with little liquidity that is continuing to suffer tough economic times, it will act as an incentive to further increase the uptake of eco-efficient technologies due to the multiple benefits and return on investment.

In May 2016, the world’s first ship owner to receive carbon credits through AkzoNobel’s methodology was announced. Greek bulker and tanker owner and operator Neda Maritime Agency Co Ltd received 13,735 carbon credits potentially worth around US$60,000. The carbon credits were accrued by the VLCC Argenta and represent the avoidance of 13,735 tonnes of CO2 being emitted to the atmosphere.

Organised by Seatrade, one of the most reputed publications in marine industry - the 9th Seatrade Maritime Awards Asia honored outstanding winners across 15 award categories at the Shangri-La Hotel in Singapore.