If the shipping industry were a country, it would be the sixth-largest polluter in the world. With its $123.7M retrofitting project, Atal Solutions — alongside Damen Shipyards Group, Blue Astra Maritime Shipping, and a consortium of partners — is taking direct action to change that. This initiative represents a major step toward transforming the global shipping fleet, integrating technologies that cut CO₂, SOₓ, and NOₓ emissions, achieve fuel savings of more than 25%, and nearly eliminate vessel waste. It directly addresses one of the industry’s most urgent challenges: making the existing fleet environmentally sustainable.
Four vessels are currently undergoing modifications in Istanbul, with initial results showing fuel savings of at least 25%. The dry-docking phase for these vessels is expected to take approximately 4 weeks. As retrofitting continues, more data from ongoing trials is anticipated to validate these results further. Istanbul was chosen as the location for dry docking due to the strategic advantages offered by the Besiktas Group. Their deep understanding of Atal’s needs, along with their flexibility and high-performing teams, played a key role in making Istanbul the ideal choice for this phase of the project.
The project brings together 10 advanced technologies, each focused on reducing emissions and improving performance, including:
· CO₂ capturing systems to reduce greenhouse gas emissions
· Air lubrication systems to improve hull efficiency
· Closed-loop scrubbers to capture emissions from traditional fuels
· LED lighting and monitoring systems to lower energy consumption
Atal’s innovative financing model ensures that these sustainable upgrades are accessible with minimal upfront investment. Through a supplier credit covering $105.2M of the project’s cost, shipowners are only required to contribute 15% equity. The financing structure was recently named one of GTR’s Best Deals of 2024, recognised for removing financial barriers to green retrofits, an area where most second-hand ships struggle to secure more than 50% financing. This model facilitates the rapid adoption of green technologies and offers a scalable solution for the maritime industry.
“The shipping industry needs practical, immediate impact, and that’s exactly what we deliver. By making financing accessible, we’re proving that large-scale sustainability improvements are not only possible but also commercially viable,” said Edwin Sieswerda, Founder and Managing Director of Atal Solutions. “This isn’t just a one-off project; it’s a blueprint for the future of green shipping.”
The introduction of the EU Emissions Trading System (ETS) and carbon credits is pressuring the shipping industry to reduce emissions, making this project both timely and essential. With the retrofitting technologies introduced, Atal and its partners are helping shipowners not only meet regulatory requirements but also reduce operational costs, especially related to fuel and emissions.
These equally impactful and commercially viable solutions that this partnership delivers are highlighted by Rutger van Dam, the Business Development Manager at Damen Shipyards Group, who stated, “We build integrated solutions that redefine everyone’s view on what’s possible. The true measure of success isn’t just financial, it’s about impact on future generations. It’s about creating tangible change in sustainability, global trade, and the way we’re shaping the future.”
Atal is setting the standard for a more sustainable maritime sector by developing a platform that enables other shipowners to use the same financing structure as the BAM project. This model is open to all, and as the project progresses, Atal is focused on raising awareness and inspiring others to follow the same path toward a more sustainable future. The ships involved in the BAM project will enter dry dock in June in Istanbul, marking a key milestone for Atal Solutions and an important step toward greener shipping.
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