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APL's CO2 Emissions Down by 45 Percent Since 2009

APL
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By MarEx 2016-05-19 20:43:27

American President Lines, a subsidiary of NOL, has announced that it has achieved a reduction of CO2 emissions of more than 45 percent from 2009 to 2015. 

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

The line said that it had achieved the emissions reductions through technical improvements, a more fuel-efficient fleet, voyage optimization, operational efficiencies and a dedicated maintenance program. 

APL had announced the intention to reduce its CO2 emissions by 30 percent below the 2009 level by 2015, but the firm exceeded that goal two years early thanks to new efficient ships entering its fleet and reduced operating speeds. 

APL’s carbon dioxide emissions data was verified by Lloyd’s Register Group according to the Clean Cargo Working Group verification protocol and the ISO14064-3:2006 standard.

NOL reported a net loss of $105 million in the first quarter of 2016 on the back of a weak container market.  The firm’s operations posted a loss for FY2015, offset by the sale of the company’s logistics unit; including the one-time revenue from the sale it turned a net profit of $700 million for the full year. 

“The difficult market condition is prompting consolidation and changes in alliances in the industry. While APL continues to make progress in taking out costs and improving yield, the proposed acquisition of APL by CMA CGM will help APL achieve scale to stay competitive in the industry," said NOL Group President and CEO Ng Yat Chung. NOL expects all regulatory preconditions for the acquisition to be complete by mid-2016.