Future Bound

MEPC80 — Reflections and Implications

Host: Engebret DahmCEO, Klaveness Combination Carriers
Guests: Helene Tofte, Political Advisor at Norwegian Shipowners'​ Association and Sofie Fogstad Vold, Senior Advisor at Norwegian Ministry of Climate and Environment
Synopsis: We delve into the International Maritime Organization's (IMO) revised Greenhouse Gas (GHG) strategy agreed at the MEPC80 meetings held July 2023 , seen by many as a pivotal step in the shipping industry's journey towards decarbonization. Hosted by Engebret Dahm, the episode features discussions with Sofie Fogstad Vold, Senior Adviser in the Norwegian Ministry of Climate and Environment, and Helene Tofte, Executive Director at the Norwegian Shipowners Association. They explore the intricacies of the IMO's decision-making process, evaluate the revised GHG strategy, and discuss the future prospects for shipping’s decarbonization journey.
Discussion Points:
IMO and MEPC's decision-making process
Key elements and analysis of the revised GHG strategy
Updating short-term measures, including plans for revising short-term regulations such as EEXI and CII.
Challenges and realistic outcomes for medium-term measures
Priorities for medium-term decarbonization initiatives
Alternatives to IMO regulations – what are potential “Plan B” scenarios?
About Tofte: Helene Tofte is the Executive Director of the Department of International Cooperation and Climate. She has the overarching responsibility for the Norwegian Shipowners’ Association’s international engagement and climate activities, with special focus on monitoring international climate processes.
About Vold: Sofie Fogstad Vold works as senior advisor at the Norwegian Ministry for Climate and Environment, among other with the International Maritime Organization negotiations related to the climate and environment framework for shipping.
 

”Misadventures in Shipping”, from a podcast by Edward Finley-Richardson

Courtesy of shipping enthusiast and new podcaster Edward Finley-Richardson, we are pleased to bring you the recording of his conversation with our CEO Engebret Dahm at our offices held in December 2023.Finley-Richardson quizzed Dahm on KCC's unique business model, decarbonization ambitions, and what makes KCC an attractive option to investors.About Finley-Richardson: A shipping investor and speculator, he curates a popular Twitter account (@ed_fin) which disseminates information relevant to shipping, with a focus on US and EU-listed oil tanker, dry bulk, container ship, and LNG carrier equities. Finley-Richardson also shares information relevant to macro-economic factors which invariably influence shipping dynamics, in addition to news and analysis relating to the underlying commodities of each shipping segment like coal, iron ore, steel, crude oil, oil products, and natural gas.

The EU ETS – Charting a Course

Host: Jean SissenerProject Developer, Klaveness Combination Carriers
Guest: Ingrid KylstadSustainability Lead, ZeroLab by Klaveness
“A big enough number to start conversations”
The European Union Emissions Trading System, better known as the EU ETS, is the EU’s market mechanism that applies a price to CO2 and creates incentives to reduce emissions. Established in 2005, the goal has been to reduce emissions in energy-intensive industries and from 2024, it will include emissions from shipping.
Under the scheme, all cargo vessels and passenger ships over 5,000 DWT sailing to or from EU ports, will have to surrender their emissions allowance as follows:
40% of their verified emissions in 2024
70% of their verified emissions in 2025
100% of verified emissions from 2026 onwards
This will include 100% of the emissions from intra-European routes and from vessels berthing within the EU, as well as 50% of extra-European routes to and from a port within the EU.
With the clock ticking, questions still linger over preparations, how the costs will be allocated, and how much the scheme will incentivize the industry. To answer these questions, Jean Sissener quizzes decarbonization guru Ingrid Kylstad of ZeroLab, with Kylstad then switching roles to probe Sissener on what steps KCC has taken for their own preparations.
Discussion points include:
What is the EU ETS and the background for shipping to be included
How the mechanics of surrendering emissions allowances will work
The current (and possible) cost of the EU ETS, and how customers may prefer to deal with it
KCC’s ongoing preparations
How KCC is ‘self-regulating’ with a carbon shadow pricing mechanism to its decision-making, and how its carbon adjusted freight (CAF) mechanism established with South32 works
About Kylstad: As Sustainability Lead for ZeroLab by Klaveness, Kylstad is an inquisitive, inter-disciplinary professional who thrives at the intersection of business, politics, and society. With professional experience spanning EU public affairs (maritime, competition, climate, energy) and startup investments, Kylstad is passionate about turning sustainability into a business opportunity and enjoys working with people with a "can do"-attitude.

Do IMO’s EEXI and CII regulations actually work?

Host: Liv Dyrnes,CFO, Klaveness Combination Carriers
Guest: Anders Mjølsnes SørheimSustainability and CO2 Performance Manager, Klaveness Combination Carriers (KCC) / Klaveness Ship Management (KSM)
“Sail in ballast all year if you want to"
As stated by IMO to incentivize reducing the carbon intensity of vessels by 40% by 2030 compared to 2008 baseline: “Ships are required to calculate two ratings: their attained Energy Efficiency Existing Ship Index (EEXI) to determine their energy efficiency, and their annual operational Carbon Intensity Indicator (CII) and associated CII rating. With requirements for EEXI and CII certification coming into play from January 1st 2023 and the first annual reporting to be completed in 2023, CFO Liv Dyrnes sits down with Sustainability and CO2 Performance Manager Anders Sørheim to discuss why KCC is not directly impacted by IMO’s EEXI and CII regulations - and why the AER is not a measure incentivizing the industry to reduce emissions.  
Discussion points include:
The EEXI and CII regulations explained
The flaws of much-debated CII
Meeting the expectations set out by IMO
What the regulations means for KCC’s CABU and CLEANBU vessels
Implications and expectations for the wider industry
About Sørheim: Sustainability and CO2 Performance Manager with KSM, working directly with KCC on topics such as energy efficiency, decarbonization initiatives and regulatory environmental compliance.

Environmental Strategy Part 2/2 - Succeeding in the Transition to Low- and Zero Emission Fuels

Host: Craig EasonOwner/Editorial Director, Fathom World
Guest: Engebret Dahm CEO, Klaveness Combination Carriers
“Profitability and sustainability go hand in hand”
While KCC is committed to transitioning to low and zero-emission fuels within this decade, achieving this ambitious goal requires a concerted global effort. Will it require a global price on carbon? Will customers be willing to cooperate and pay? We may be pushing for this change, but success requires greater collaboration, a different regulatory framework, and technological advancements.
Continuing the conversation around KCC’s newly updated Environmental Strategy for 2023-50, hear from Craig Eason, Editorial Director/Owner at Fathom World, as he takes the helm to quiz CEO Engebret Dahm on our ambitions for the future fuel transition and how we plan to get there.
Discussion points include:
KCC’s ambitions for getting started with the fuel transition, what can we achieve on our own and what is required from the “outside world”?
Getting the cargo owners onboard with the journey
How can KCC make decisions on new vessels now, while ensuring those vessels are still going to be viable in the future?
Introducing drop-in biofuels to the fuel mix
The role of the crew onboard in delivering on our targets
About Eason:  Owner of Fathom Maritime Media AB, a Sweden-registered business focusing on delivering content, news, project management and analysis in the maritime, shipping and marine industries.  He is a multi-disciplined media and communications entrepreneur with a deep background in the maritime, shipping and ocean space. With an ability and empathy to quickly understand a situation or issue, and then find clear direction for a successful outcome.
He is a former seafarer with a certificate of competency deck and a subsequent post graduate diploma in broadcast journalism. He has an eye for detail, an appreciation of the demands on others and an ability to collaboratively turn situations and projects into opportunities. Current workflows includes high level speech writing,  knowledge based social media content (based on industry knowledge and broadcast/multimedia background), project management and liaising with conflicting and disparate entities to find forward motion in deliverables.

Environmental Strategy Part 1/2 - Achieving Cost-effective Decarbonization Through Efficiency Improvements

Host: Christine KormeHead of Communications, Norwegian Shipowner’s Association
Guest: Engebret Dahm CEO, Klaveness Combination Carriers
“It’s about walking the talk”
Three years on from the release of KCC’s first Environmental Strategy in 2020, shipping is falling behind schedule on IMO’s 2030 targets as the choice and availability of new fuels, technology, and future regulatory framework remains highly uncertain.  
But KCC has always chosen the proactive approach and opted for the carrot rather than wait for stick and with the launch of our newly updated Environmental Strategy for 2023-50, our CEO Engebret Dahm is quizzed by the Norwegian Shipowner’s Association Head of Communications, Christine Korme, to ultimately ask the question: "What can KCC and the rest of the industry do to decarbonize our business given the uncertainty that continues to surround us?”
Discussion points include:
How KCC claims to deliver the lowest carbon shipping solution in the dry bulk and tanker business.
Three years on from the release of the first strategy, what have we learned?
What haven’t we delivered on, and why?
KCC’s 3 key pillars behind being a driver in the transition towards low carbon shipping.
The importance of transparent reporting in our industry.
Other initiatives at work to reduce KCC’s impact on the environment.
About Korme: Director of Communications at the Norwegian Shipowners’ Association. As head of the Communications Department her primary responsibility is strategic and operative communications, in addition to coordinating many of the association’s events. She worked for 25 years in Norwegian media, including 17 years as news anchor, program host and US correspondent for TV2. She has been Director of Communications for Microsoft Norway and was Director of Digitalization and Transformation at the employers’ organization Abelia before joining the Norwegian Shipowners’ Association in August 2018.   

Silverstream Technologies — The Magic Carpet

Host: Martin WattumHead of Projects and Business Transformation, KCC
Guest: Noah SilberschmidtCEO, Silverstream Technologies
“A case of seeing is believing”
In April 2021 we announced KCC had concluded key strategic agreements for an energy efficiency retrofit on two of our vessels, which included the installation of an air lubrication system by Silverstream Technologies. Known as the Silverstream® System, the solution releases a carpet of microbubbles that travels the full length of the flat bottom of a vessel, reducing friction between the hull and water.
The installations are slated to be carried out on one CABU II class vessel and one CLEANBU class vessel during their next scheduled dockings during Q2 and Q3 2023.
In this special ‘on the road’ edition of Future Bound, Martin Wattum took the opportunity to visit Silverstream Technologies in London and sit down with CEO Noah Silberschmidt to dig into how Silverstream works and what the installation means for KCC’s vessels due to onboard the solution.
Discussion points include:
A history of air lubrication technology
What makes the Silverstream® System the most efficient friction reduction technology on the market
How best-in-class health and safety standards are followed
Installing the Silverstream® System on newbuilds vs retrofitting
Silverstream’s role to play in a future of greener fuels
 
About Silberschmidt: Founder, Chief Executive Officer and Board Member at Silverstream Technologies. Under Silberschmidt’s leadership, Silverstream has successfully developed, marketed, and commercialized its scale air lubrication technology - the Silverstream® System.

On and Offshore Perspectives of a Maritime Trainee

Host: Engebret DahmCEO, KCC
Guest: Andreas KrossøyMaritime Trainee, KCC + Various Klaveness business units
"Steak and Karaoke Nights"
Through the Klaveness Group, KCC is a regular participant in the Norwegian Shipowners Association’s Management Trainee program. This 18-month initiative combines the practical experience of working different departments at Klaveness, together with theoretical knowledge gained through an academic program.
Andreas Krossøy joins us as part of the Klaveness class of 2022-23 and recently completed a stint sailing with the CLEANBU MV Bass, before returning onshore to work with KCC on projects and business development.
In this episode, we ask Krossøy to take us on a journey of his 5-week stint sailing aboard MV Bass from Europe to South America and to tell us a little more about his work onshore with KCC’s ongoing energy efficiency initiatives.
Discussion points include:
The onshore projects Krossøy is working on for KCC and KSM
A journey aboard MV Bass with all its highs and surprises
Why the experience at sea is valuable for an onshore career in shipping
Breaking the stereotypes that shipping is an old-fashioned and stuffy business
Krossøy’s plans for the future
About Krossøy: Joined Torvald Klaveness as a Maritime Trainee during the fall of 2022 as a recent graduate of MSc Shipping, Trade & Finance at Bayes (formerly Cass) Business School in London. Also holds a BSc Economics and Business Administration from the Norwegian School of Economics. 

Sea Cargo Charter — Comparing Apples and Apples

Host: Ingrid KylstadSustainability Lead, ZeroLab by Klaveness
Guest: Rasmus Bach NielsenVice Chair, Sea Cargo Charter | Global Head of Fuel Decarbonization, Trafigura
“Only when we have transparency can we start to drive behavioral change”
In the absence of sufficient regulations and a global price on carbon, the shipping industry’s decarbonization agenda is spurned forward by its front runners and voluntary initiatives such as the Sea Cargo Charter (SCC).
With 34 members made up of charterers and operators, the Sea Cargo Charter establishes a framework for assessing and disclosing the climate alignment of ship chartering activities around the globe. It sets a benchmark for what it means to be a responsible charterer in the maritime sector and provides actionable guidance on how to achieve this.
In this episode, Vice Chair Rasmus Bach Nielsen outlines how this standardized emissions reporting format is more than just a ‘tick the box’ exercise and the global necessity of driving transparency around emissions.
Discussion points include:
How does the Sea Cargo Charter contribute to the decarbonization agenda
A reflection on the first year of reporting in 2022
Demystifying the concerns around joining the SCC – it’s not a ranking system!
Industries for SCC to challenge in 2023
Future developments to the SCC framework and methodology
About Bach Nielsen: A frequent contributor to the debate on decarbonization of shipping. Rasmus Bach Nielsen joined Trafigura in August 2014 as Global Head of Wet Freight and in August 2020, took up the newly established role of Global Head of Fuel Decarbonization with the objective of reducing the Group’s shipping emission footprint. Nielsen serves as Vice Chair of the Sea Cargo Charter and currently ranked 10th on Lloyd’s List of 100 most influential persons in shipping.

Webinar Recording | Shipping Emissions – Do Stakeholders Still Care (Part 2/2)

Moderator: Ingrid KylstadSustainability Lead, ZeroLab by Klaveness
Guests:
Engebret DahmCEO Klaveness, Combination Carriers
Su Yun AnandHead of Shipping, South32
Haris ZografakisPartner Stephenson, Harwood LLP
Claire WrightGM Commercial & Strategy, Shell Shipping and Maritime
“What does it take to become a leader in decarbonization?”
Description:       To be a leader within shipping decarbonization is about being bold and having a willingness to take risks. With that in mind, how can charterers and shipowners work together to make early moves less risky for those involved?
Catch up on the recording from the second part of our webinar held in September 2022 as our panel blends commercial and legal perspectives and bring a touch of idealism as they dig deeper into the question: do emission reductions have any value before there is a carbon tax in place? And do stakeholders have any payment willingness beyond what can safely be defended through fuel savings?