UAE-based Zaitoun Green Shipping has formed a consortium with major industry players to jointly serve the container shipping market and create a new business model for this market segment.

MacGregor, Mitsubishi Heavy Industries Marine Machinery and Equipment, Wärtsilä, Winterthur Gas and Diesel, Gaztransport and Technigaz (GTT), WIN GD, CargoTech, as well as Carinafour, are members of the consortium.

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The consortium will primarily focus on improving ship efficiency, environmental footprint, as well as technological advancements, safe operations and profit commitment.

In a statement published in zawya.com, Zaitoun Green Shipping president and CEO Mohammed Zaitoun said: “I have witnessed the current industry problems, whereas mainly cargo owners are tied to the existing ecosystem.

“That’s why I thought about developing a consortium of the main industry key players, which will promote efficiency by taking a whole-ship approach and working forward to producing the most economical and environmental friendly vessels.”

The newly formed consortium intends to focus on reviving the global container shipping business, which is currently going through a weak economic and ecological phase.

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According to Zaitoun, fragmented expertise and the industry’s general operating models have been restricting the global container shipping sector to employ advanced practices to design and build new containerships.

“The newly formed consortium intends to focus on reviving the global container shipping business.”

Zaitoun also noted that the container shipping industry is concentrating more on expenditure-driven investments than operation-driven investments and achieving capability over a ship’s lifecycle.

In recent years, the industry is also required to abide by a number of new rules and regulations from the International Maritime Organization (IMO) and various local authorities to curb its overall emissions.

The consortium also expects to discover a new business model for the container ships industry by supporting adoption of new technologies, processes and operating models to address both commercial and ecological challenges.

The consortium also aims to work towards protecting the marine environment.

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