APL Axes CO2 Emissions

Singapore-based container shipping company APL has reduced its fleet carbon dioxide emissions by 45.5 percent in 2015, compared to its emissions level in 2009, the company said, marking its highest carbon dioxide emissions reduction in the last six years. 

APL attributed its carbon emissions cuts to improvements in operational efficiency, fleet and voyage optimization, technical improvements, as well as more fuel-efficient and environmentally-friendly fleet of vessels.

“APL has steadily reduced its year-on-year carbon emissions and this demonstrates the company’s unyielding focus on sustainable shipping,” Kenneth Glenn, APL President said.

Neptune Orient Lines (NOL) Group, operating through its subsidiary APL, reported a net loss after tax of USD 105 million for the first quarter of 2016 against a backdrop of weak global demand and excess capacity in the industry.

NOL is about to be acquired by the French container shipping major CMA CGM within a USD 2.4 billion acquisition deal. The move has already received some of the required clearance from the relevant regulatory authorities, namely the European Commission as well as Indian authorities.

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Posted on May 23, 2016 with tags .

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