Dubai-based Zaitoun Green Shipping has announced that the University of Turku has joined its international maritime consortium as its academic partner.
The Finnish university will further leverage the consortium with the needed expertise and academic research aiming to reduce the investment risks in container ships and create significant business models, a statement explained.
The international consortium, led by Zaitoun Green Shipping, seeks to collaborate on radically improving the performance of container ships and forming a new business model for this market. The consortium consists of key industry players such as MacGregor, Mitsubishi Heavy Industries Marine Machinery & Equipment, Wärtsilä, Winterthur Gas & Diesel Ltd, Gaztransport & Technigaz, WIN GD, CargoTech and Carinafour.
Zaitoun Green Shipping president and chief executive Mohammed Zaitoun said “I witnessed the current industry problems [a] long time back. That’s why I thought about developing an international maritime consortium of the main industry key players. Our strategic approach can challenge the current modes of operation and significantly increase ships’ economic efficiency while taking into consideration the environmental requirements.”
Mr Zaitoun added, “Our partnership with the University of Turku fosters the flow of ideas and indepth research that will in return reinforce a sustainable maritime economy. Such effective collaboration will support our current winning team of the high-skilled pioneers who will shape the industry with innovation. This is what is needed to fill the current industry gap.”
The role of the University of Turku in the consortium is to study different finance and business model options in both the investment and operational phases. Special emphasis is placed on possibilities in value creation by increasing economic and ecological efficiency. Turku School of Economics leads the project at the University of Turku.
Commenting on the partnership, Turku School of Economics director of corporate research co-operation Antti Saurama said “The need for new solutions is evident. The global industry has reported a lack of efficiency and poor economic results. At the same time, the decisions of the International Maritime Organization demand emission reductions and implementing new shipping technologies. Ship investments, which have a lifecycle of approximately 25 years, have to be planned carefully.”
Mr Zaitoun said “We welcome all interested parties worldwide to work with us through our collaborative consortium seeking together a smarter and greener shipping future. One of our main goals is to establish a competitive fleet of efficient and economical vessels that will ensure better profitability.”