ClassNK Commits 2.2 Billion Yen (US$25 Million) to Joint GHG Reduction Program

ClassNK Chairman and President Noboru Ueda announced to the press today that ClassNK will commit 2.2 billion yen (US$25 million) in research and funding as part of its participation in a national joint R&D program to reduce maritime greenhouse gas (GHG) emissions. ClassNK’s commitment will cover more than 25% of the project’s total budget of 8.5 billion yen (US$95 million) through 2012. The announcement was made at a press conference today where Mr. Ueda outlined the classification society’s objectives for 2010. During the conference, Mr. Ueda, who will become the Chairman of the International Association of Classification Societies (IACS) this July, stated that, “Classification societies must take a leading role in the reduction of greenhouse gas emissions.” He continued by saying, “Our commitment as an industry must go beyond merely helping to establish goals for reducing maritime emissions. We must actively contribute to developing, funding, and promoting concrete, practical technologies to make the achievement of these goals a reality. The commitment we are making today is an important step in that process.” The R&D program is part of a national effort to reduce GHG emissions established by the Ministry of Land, Infrastructure, Transportation and Tourism (MLIT) last year. More than 20 projects currently being conducted by major Japanese maritime companies have already been selected for funding and assistance by MLIT. Participants in the program represent the vast breadth of the Japanese maritime cluster, including shipping companies, shipbuilders, manufacturers, and research organizations (see attached list). About ClassNK: Nippon Kaiji Kyokai, better known as ClassNK, is the world’s largest classification society on a gross ton basis. With some 170 million gross tons on its register, ClassNK provides a full range of ship classification and technical services to roughly 20% of the world’s commercial fleet. To view GHG Reduction Project Participants, click HERE.