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SUSTAINABILITY

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CORE VALUES

Triumph Subsea Services’ core values can be summarised as GREEN. GREEN forms the basis and framework of our commitment to excel within our business, consistently deliver excellence to our clients and to further develop our technologies to assist the world in achieving Net Zero. We expect all of our supply-chain, subcontractors and partners to adhere to these same standards and values relevant to their scopes of supply.

 

GREEN

 

Green Technology

Green Technology is required to ensure the preservation and sustainability of the Blue Economy for present and future generations. As such we will only use vessels and equipment within the Blue Economy that leave the smallest possible environmental footprint in all aspects of our marine operations.

 

Research

Research to further develop and to push the boundaries of Green Technology for use within the Blue Economy with the ultimate goal of being able to operate Net Zero vessels for all of our marine operations by 2030.

 

Environment

Leave the smallest possible Environmental footprint in all aspects of our companies operations and in particular to meet and exceed the United Nations Sustainable Development Goal # 14 – Life Below Water.

 

Ethics

Ethically operate our business and always act with honesty and integrity. Our Ethics include our commitment to be an equal opportunity employer, support local supply chains, support local communities and safely conduct our business to ensure no harm is done to the people or the environment.

 

Net Zero

Use all of our Green Technology and Research to assist all of our supply-chain, subcontractors and clients to achieve their Net Zero goals. Our goal is Net Zero by 2030 and we expect everyone that we are engaged with to aim for similar goals.

 

 

SUSTAINABILITY

Triumph subscribes to and supports the Sustainable Development Goals (SDGs) that were adopted by all United Nations Member States in 2015 as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030. Triumph, in-line with the 2015 Paris Agreement for climate change, is committed to being a Net Zero company by 2030 for all of our vessel and marine operations.

Triumph, its Director and shareholders believe that to achieve the SDG and Net Zero targets, partnerships within numerous diverse market segments are needed to push the envelope of technology and science to achieve these targets sooner rather than later. As such we are continually joining forces and connecting with partners within the maritime, technology, aerospace, industrial engineering sectors and scientific research communities. We believe strongly enough in the UN SDGs, Paris Agreement and Net Zero and commitments, that we have allocated dedicated research laboratories, equipment and sufficient accommodation on all of our vessels so that we can host research agencies and scientists without affecting our day to day operations.

Triumph during the course of its daily onshore and offshore business operations contribute directly and adhere to 12 of the 17 SDGs.

 

 

TECHNOLOGY AND INNOVATION

The key drivers and differentiators in Triumph’s sustainability growth programme are based on our unrivalled innovations and industry first initiatives. We have incorporated all of the latest and currently available advanced technology, robotics, safety systems and autonomous systems within our new vessels that will be utilized within the energy and offshore wind sectors. We do not have a legacy fleet of older vessels and therefore we are in the extremely fortunate position that all of the vessels within our fleet are Green and all are future proofed, this ensures that we can reach our Net Zero goals. We are the industry leaders in all aspects of future proof vessel designs, build and operations and we will continually evolve, adapt, invent and incorporate new Green Technology into our vessels as it becomes available.

IMO DECARBONIZATION MEASURES: EEXI AND CII

The International Maritime Organization (IMO) working group has agreed a set of draft guidelines to support mandatory measures to cut the carbon intensity of all ships. These proposed mandatory measures have been approved by IMO’s Marine Environment Committee (MEPC) and are currently being adopted by MEPC.

The proposed amendments to the MARPOL Convention would require ships to combine a technical and an operational approach to reduce their carbon intensity. This is in line with the ambition of the IMO GHG Strategy, which aims to reduce carbon intensity of international shipping by 40% by 2030 and 70% by 2050, compared to 2008 levels.

These are two new measures; the technical requirement to reduce carbon intensity, based on a new EEXI - Efficiency Existing Ship Index (EEXI); and the operational carbon intensity reduction requirements, based on a new operational Carbon Intensity Indicator (CII). The EEXI is a framework for determining the energy efficiency and CO2 emissions of in-service vessels over 400 GT. The CII provides ship operators with the factor by which they must reduce carbon emissions annually to comply with regulations and ensure continuous improvement.

 

EEXI – Efficiency Existing Ship Index

 

The IMO Marine Environmental Protection Committee  recent (MEPC) 75 meeting, mandated the new index is scheduled to come into force on January 1, 2023. The EEXI is like its predecessor, the Energy Efficient Design Index (EEDI)—in effect since 2013—but applied to existing ships outside EEDI regulations. It specifically targets vessels above 400 GT that fall under MARPOL Annex VI.

 

To set CO2 emissions standards, the EEXI uses the same methodology as the EEDI. Carbon emissions are described per cargo ton and mile; they determine standard CO2 emissions related to installed engine power, transport capacity and ship speed. The standard emissions are a function of fuel oil consumption, the main engine’s and auxiliaries’ installed power, and a conversion factor between fuel and the corresponding CO2 mass.

 

Carbon Intensity Rating

 

The draft 2021 Guidelines on the on the operational Carbon Intensity Rating of ships (CII rating guidelines, G4) sets the method to determine the rating boundaries.

 

The rating would be given on a scale – operational carbon intensity rating. With the following rating system based on the performance level:

 

A: Major Superior

B: Minor Superior

C: Moderate

D: Minor Inferior

E: Inferior

The Ship Energy Efficiency Management Plan (SEEMP); will monitor performance levels. The SEEMP is a mandatory, ship-specific document that lays out the plan to improve a vessel’s energy efficiency in a cost-effective manner.

 

Under draft MARPOL amendments, a ship rated D for three consecutive years, or E, would have to submit a corrective action plan, to show how the required index; C or above; would be achieved.

 

Administrations, port authorities and other stakeholders as appropriate will be encouraged to provide incentives to ships rated as A or B.

 

As part of Triumph’s commitment to sustainability, reduced carbon emissions and to be building and operating Net Zero vessels by 2030 or sooner all of our vessel designs that we are working on incorporate the same advanced technology.

Based on the preliminary calculations that have been independently conducted for our ST269 vessel series, an IMO CII B rating will initially be attained. An IMO CII A rating would be achievable within 5 years given our future proof design and the pace of technological advancements in Net Zero equipment and systems.

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