AMSTERDAM, the Netherlands - Two ship owners are due to be awarded a combined total of almost $500,000 when the first claims resulting from a new carbon credits methodology developed by AkzoNobel and The Gold Standard Foundation are finalized next year.

The scheme allows ships to generate income in the form of carbon credits, which are earned by reducing CO2 emissions. A total of 17 vessels are included in the first two claims, while 50 additional vessels are expected to join the scheme by the end of the year.

The landmark methodology is based on ship owners converting existing vessels from a biocidal antifouling system to a premium, biocide-free advanced hull coating.

"With ship owners and operators under increasing pressure to drive efficiencies and improve sustainability, the ability of carbon credits to turn energy efficiency into bottom line benefits is a timely and significant step forward," said Trevor Solomon, Intersleek Business Manager at AkzoNobel's Marine Coatings business.

"Based on the 100 eligible ships already converted from a biocidal antifouling to Intersleek technology, there is an estimated $2.8 million worth of carbon credits potentially available to ship owners and operators."

Besides allowing for the sale of the carbon credits, the scheme also offers ship owners the option of passing them on to other stakeholders, such as cargo owners, to offset their emissions. They can alternatively be used to voluntarily offset other sources of CO2 emissions.

Launched in April, the scheme is the first peer-reviewed and independently validated methodology that allows ships to generate carbon credits for the CO2 emission reductions they achieve.