Ardmore Shipping’s path to environmental leadership showcased in 2023 Sustainability Report
Back to newsArdmore Shipping has published its 2023 Sustainability Report, outlining the company’s progress, initiatives, and ambitions as it navigates towards a greener and more sustainable future.
The Report highlights Ardmore’s commitment to environmental, social, and governance leadership. It shares details on how the company is advancing fuel efficiency through its Energy Transition Plan (ETP), an overview of its activities around safety and staff empowerment, and an update on the company’s framework that ensures accountability, transparency, and ethical practices.
Ardmore’s CEO, Anthony Gurnee, said, “As we reflect on another year at Ardmore, our commitment to sustainability remains firmly at the forefront of our operations. This past year has highlighted the importance of integrating sustainable practices into every aspect of our business, and we are proud of the significant progress we have made.
“From investing nearly $40m in drydockings to verifiable results that include a CO₂ emissions reduction of 21,397 metric tonnes through hull performance monitoring, we are rigorous in implementing solutions that deliver. Whether through our commitment to the safety and wellbeing of our seafarers, or our leadership in corporate governance, we are striving to become a truly sustainable tanker company through doing the right thing in accordance with our values and creating real value for our customers and investors.”
A rigorous approach to testing efficiency solutions
Ardmore’s Energy Transition Plan guides the approach to improving efficiency through the trial and adoption of a range of maritime efficiency technologies across the fleet. This has included microboilers, variable speed drives, ultrasound propeller cleaning systems, PBCF energy-saving devices, inert gas generators, low-load boiler optimization, and fuel consumption management technologies.
The Sustainability Report breaks down Ardmore’s four-step approach to adopting new technologies, starting with primary research to evaluate technical readiness and financial viability, followed by testing a single unit for effectiveness and improvements. Successful tests lead to broader implementation plans. Finally, the team tracks post-installation performance, comparing actual results with expectations.
Garry Noonan, Ardmore’s Director, Innovation, said, “Reflecting on 2023, the integration of the ETP engagement into the company’s culture stands out. It has become an integral part of daily routines, which is more gratifying than any single technology rollout. With this culture continuously developing, there is excitement for what more the team can accomplish in 2024.”
Digitally driven efficiency
Ardmore is also embracing an array of digital solutions to improve vessel performance, lower fuel costs and reduce emissions. This includes the adoption of AI-powered voyage optimization technology through its partnership with DeepSea Technologies, which has seen Ardmore become one of the first tanker companies to utilize high-frequency data and efficiency-driven hardware onboard its vessels.
“Digital innovation has become pivotal in our sustainability journey,” said Ha Eun Ruppelt, Commercial Project Manager at Ardmore. “It aids us in driving efficiencies, reducing environmental impact, and enabling smarter, more sustainable operations within our tanker fleet. By leveraging cutting-edgedigital platforms, we have revolutionized our approach to operational efficiency, safety and compliance, seafarer welfare, cost reduction, documentation management and data-driven decision making.”
Charting the course to a greener future
As Ardmore Shipping continues to navigate the complexities of the maritime industry, the 2023 Sustainability Report stands as a testament to the company’s commitment to environmental stewardship, social responsibility, and robust governance. By embracing innovative technologies, fostering a culture of continuous improvement, and forming strategic partnerships, Ardmore is not only advancing its own operational efficiency but also setting a benchmark for sustainability within the industry.
Ardmore is also putting people at the heart of its sustainability approach through an active strategy to support greater diversity, equity, inclusion and belonging across the organisation, at sea and ashore. Ardmore believes that enabling every member of a diverse team to fulfil their potential is an important competitive advantage, and has policies and programs designed to build a workplace culture in which everyone can thrive.
Ardmore’s 2023 Sustainability Report in numbers:
- US$25 million invested in energy efficiency technologies
- Returns on Investment on ETP projects of 40-140%
- Zero MARPOL incidents
- 21,397 metric tonnes CO₂ saved through hull performance monitoring
- No. 1 publicly traded tanker company on Webber ESG Scorecard for Governance
The progress made in fuel efficiency through the Energy Transition Plan, the rigorous approach to testing and adopting new technologies, and the commitment to building a strong, diverse team underscores Ardmore’s proactive approach to addressing the urgent need for more sustainable maritime practices, as well as preparing for future regulatory requirements. Looking ahead, Ardmore remains dedicated to pushing the boundaries of what is possible, aiming to achieve even higher standards of environmental performance and operational excellence.
The 2023 Sustainability Report, detailing these achievements, ongoing programmes and ambitions for the future, is available on the Ardmore website: www.ardmoreshipping.com/about/progress/.