Our client, Atlas Corp., greening the global supply chain

Graham Talbot
CFO

Atlas Corp.

Approximately 90% of the world's global trade is delivered through shipping. It is a massive logistical backbone of the global economy.

Most vessels at the moment run on fuel oil. The global shipping industry contributes about 3% of the CO2 emissions globally, and that equates to around 800 million tons per annum.

The shipping industry has to take action.

Elizabeth Cabot
Head of Transportation & Logistics

Wells Fargo Corporate & Investment Banking

Atlas is the parent company of Seaspan, which is the largest independent owner and operator of container ships in the world. It has approximately 135 vessels, the biggest of which can carry 24,000 20-foot containers.

Seaspan is reducing their carbon footprint, starting with the fuels that they're using. Liquified natural gas is the most commercially viable alternative fuel for container ships.

Jerri Kallam
Managing Director

Wells Fargo Corporate & Investment Banking

Seaspan has ordered 25 LNG-powered vessels, which will cost about $3 billion. LNG is expected to have a 20 percent reduction in carbon emissions.

Back to Graham

Wells Fargo has been instrumental in us designing some of our financing products.

I do rely on them quite heavily when I want to really understand some of the intricacies around sustainable financing.

Back to Elizabeth

Seaspan was the first company to issue a green bond for the oceanic environment in the United States.

We've worked with Seaspan to issue $750 million to finance projects like their LNG container ships.

Back to Jerri

Investors are very interested in ESG across the board. With sustainability bonds, you will have a bigger investor pool and more people interested in learning about your story.

Back to Graham

We've been working on different types of vessel efficiency -- different propellors, different surface paints, different bow on the vessels – all to improve how many miles our vessels can go per ton of fuel.

A focus on sustainability is not really just part of being a good corporate citizen. It's actually also good business. Our customers are demanding it. We have to help them find solutions.

LNG it's only part of the story, and it's a step in the right direction, but there's a lot more work to do.

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