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‘Shipping committed to green growth’ ICS to tell UN Ocean Conference

Monday, 05 June 2017

 ‘Shipping committed to green growth’ ICS to tell UN Ocean Conference

The high level United Nations Ocean Conference (5-9 June), organised by the UN General Assembly, opens today in New York.

On Tuesday 6 June, the International Chamber of Shipping (ICS) will explain that the global shipping industry is fully committed to the UN Sustainable Development Goal for the protection of the Ocean. 

ICS says that the decision by President Trump to withdraw the U.S. from the Paris Agreement on climate change will have no impact on the shipping industry’s strong commitment to reducing its CO2 emissions.   

Speaking at a session on the prevention of ocean acidification, ICS will present some ambitious ‘aspirational objectives’ on CO2 reduction which the industry – responsible for moving about 90% of global trade – wants its regulator to adopt on behalf of the international shipping sector, in the same way that governments under the Paris Agreement, have adopted CO2 reduction commitments on behalf of their national economies.

The industry has proposed that the UN International Maritime Organization (IMO) should agree an objective of keeping total CO2 emissions from the shipping sector below 2008 levels and then cut annual total CO2 emissions from the sector by 2050, by a percentage to be agreed by IMO.

This is in addition to an existing industry commitment to cut CO2 emissions per tonne of cargo carried one kilometre by 50% by 2050, compared to 2008.

ICS Director of Policy, Simon Bennett, will explain to the world’s governments attending the UN Ocean Conference that:

“Shipping, because of its great size, is currently responsible for about 2.2% of annual anthropogenic CO2 emissions.  According to IMO, shipping has reduced its total CO2 emissions by more than 13% between 2008 and 2012, despite increased maritime trade, but there is a perception that shipping, whose emissions cannot be attributed to individual nations, may have somehow ‘escaped’ the Paris Agreement.”

In three weeks’ time, in London, the IMO will open the first of a series of meetings to develop a strategy for further reducing CO2 from ships, in order to match the ambition of the Paris Agreement.   The industry has proposed that IMO should adopt some ambitious aspirational objectives on behalf of the international shipping sector as a whole. 

The shipping industry has made these proposals to the next session of the IMO Marine Environment Protection Committee, which meets in London at the end of June.

Throughout the UN Ocean Conference, ICS will also make the case that shipping has an impressive environmental performance and is a driver of ‘green growth’.  In addition to reducing CO2, the industry is committed to the implementation in 2020 of the global cap on the sulphur content of marine fuel, at an anticipated collective cost of around US$ 100 billion per annum.     

ICS will also press for government regulators to give equal priority to each of the three pillars of sustainable development identified by the UN: economic, social and environmental. 

ICS argues that understanding the importance of economic factors in achieving sustainable development is especially important in view of shipping’s role in the continuing spread of global prosperity and the movement of about 90% of trade in goods, energy and raw materials.

Speaking at an IMO side event at the UN in New York, Mr Bennett explained:

“The shipping industry is committed to the delivery of further environmental improvements in the interests of sustainable development.  But sustainable development requires a global shipping industry that is economically sustainable too.”

This message has been presented in a brochure International Shipping: Protecting the Ocean, Committed to CO2 Reduction, which is being distributed at the UN Ocean Conference.

The brochure can be downloaded at http://bit.ly/2qgf66k:

•             The International Chamber of Shipping (ICS) is the principal international trade association for shipowners and operators, concerned with all technical, legal employment affairs and policy issues that may affect international shipping. ICS membership comprises national shipowners' associations in Asia, Europe and the Americas whose member shipping companies operate over 80% of the world's merchant tonnage.

 

For Further Information, please contact:

ICS:   Debra Massey        Elaborate Communications                                          Tel +44 (0) 1296 682675

 

Nordic American Tankers Limited (NAT) - Nordic American Offshore Ltd. (NAO) - Telephone Conference for shareholders/investors, Tuesday June 13, 2017 at 08:00 am US Eastern Time

Hamilton, Bermuda, June 5, 2017

Nordic American Tankers Limited (NAT) and Nordic American Offshore Ltd. (NAO) will host a telephone conference Tuesday June 13, 2017 at 08:00 am US EST. We will address NAT matters first and NAO matters thereafter in the conference call.

Between them NAT and the immediate Hansson family own 32.6% of NAO, 22.6% and 10% respectively. 

Later this week we shall circulate documentation and provide dial-in details.

Herbjorn Hansson

Chairman & CEO

Nordic American Tankers Limited

Herbjorn Hansson

Executive Chairman

Nordic American Offshore Ltd.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties.  Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.  We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.

Contacts:

Herbjørn Hansson, Chairman & CEO

Nordic American Tankers Limited

Tel: +1 866 805 9504 or +47 90 14 62 91

 

Gary J. Wolfe

Seward & Kissel LLP

New York, USA

Tel: +1 212 574 1223

 

Web-site: www.nat.bm

 This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Nordic American Tankers Limited, LOM Building, 27 Reid Street, Hamilton HM11, Bermuda

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Last Updated ( Monday, 05 June 2017 )