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LR: Risk sharing key component to viable emissions reduction

When major change is introduced on a ship, there are numerous aspects to consider by all stakeholders involved which all add risk.

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Elina Papageorgiou

Shipping must be open to sharing the risks associated with emissions reduction to enable the uptake of energy savings devices and technologies (ESDs/ESTs) and digital applications, stated classification society Lloyd’s Register (LR) representatives during a presentation at Athens during early December.

The responsibility of investing in and driving the uptake of new solutions must be borne by all relevant stakeholders and not sit solely with the shipowner. This extends not only to financial exposure, but also new vessel design and data sharing.

When major change is introduced on a ship, there are numerous aspects to consider by all stakeholders involved which all add risk. Energy producers, the energy consumers, the associated supply chains, and the investors, insurers, regulators, class societies and governments – all have critical, but different and highly inter-related roles to play within the transition.

“We are in a new era of shipping that comes with a different set of rules, including shipping companies’ approach risk and risk sharing,” shared Elina Papageorgiou, Global Strategic Growth Director and VP Greece and Cyprus at LR at the Powering Progress: Innovation and Energy in Maritime event.

“Longer-term investment decisions should also be informed by the decisions of shipping’s clients’, clients – the cargo owners – and align with their emissions reduction ambitions.”

David Lloyd, Director, Energy Transition at LR, meanwhile noted: “Smart vessel operation and well-informed, data-led investment decisions can significantly support vessel compliance. What’s more, investments don’t have to be extensive to achieve results.”

“Whilst uncertainties around bigger challenges such as alternative fuels and future requirements are resolved, ESDs and digital solutions can support the commercial viability of vessels as we approach 2030 with often surprisingly low levels of investment. But these investments should be shared across all stakeholders and not be limited to owners and financiers.”

Fotis Belexis, Technical Director of Starbulk Carriers, were amongst speakers discussing risk sharing across stakeholders for complex capital investments.

He pointed out that as existing vessels age, they cannot be replaced by newbuilds as there is insufficient global shipbuilding capacity to replenish the fleet with newer tonnage.

As such, older vessels may therefore remain in the market for longer than expected and not depreciate in value as has been the case in the past. Banks and other lenders must realise this and adjust their depreciation and lending models to suit when ship owners want to finance retrofits of ESDs on their older ships.

Moving forward, the room agreed energy saving devices (ESDs), such as wind-assisted ship propulsion, digital solutions and smart operations should all be considered as the in-service fleet using traditional marine fuels seeks to shave its bunker fuel consumption to comply with IMO’s Carbon Intensity Indicator, EU ETS (Emissions Trading Scheme) and FuelEU regulations – the latter will which be in effect as of 1 January 2025.

As emissions reduction targets increase, with steeper increments than currently planned potentially being announced at the Marine Environment Protection Committee meeting in May next year, data-led insight and scenario planning will become more important to understand where efficiencies can be gained.

 

Photo credit: Lloyd’s Register
Published: 31 December 2024

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Wind-assisted

DNV awards TADC to Econowind for VentoFoil 3-Series

System actively harnesses wind power to generate forward thrust, helping to reduce bunker fuel consumption and mitigate FuelEU penalties.

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DNV awards TADC to Econowind for VentoFoil 3-Series

Dutch wind-assisted propulsion technology firm Econowind on Wednesday (15 July) said it has received a Type Approval Design Certificate (TADC) from classification society DNV for its VentoFoil 3-Series boundary layer suction wing. 

The company said the certification confirms compliance with DNV’s ST-0511 standard for Wind-Assisted Propulsion Systems and enables easier integration of VentoFoils on DNV-classed vessels worldwide. 

Econowind added that the approval accelerates the deployment of wind propulsion across the shipping industry.

“DNV is one of the world’s leading classification societies. This TADC gives DNV-classed shipowners confidence that VentoFoils meet the highest industry standards,” said Chiel de Leeuw, Chief Commercial Officer at Econowind. 

“It simplifies the approval process for both retrofits and newbuilds. VentoFoils are ideal for late-stage design integration and retrofit projects. This is an important milestone for Econowind and for the wider adoption of wind-assisted ship propulsion.”

The 3-Series VentoFoil is Econowind’s best-selling suction wing to date, with over 150 units sold. The system actively harnesses wind power to generate forward thrust, helping to reduce fuel consumption and mitigate FuelEU penalties. The system includes a tilting foundation, allowing the wings to be tilted down during port operations or in adverse weather conditions, making it a flexible solution.

The TADC applies to the 16-meter VentoFoil 3-Series product design and supports easy integration into DNV-classed vessels without repeating the full design assessment process. This enables shipowners, shipyards, and project teams to move more efficiently from concept to installation, reducing project complexity and accelerating deployment. 

Hasso Hoffmeister, Senior Principal Engineer at DNV Maritime, said: “It is a great pleasure to award Econowind this new certificate. WAPS have been going from strength to strength over the past few years, from 2022 the number of vessels in operation has increased five times, and we’ve now topped the century mark. 

“And with the current advances in technology, materials, and production capacity in the segment, we expect this to accelerate. So, while the wind always changes, the shipping industry is likely to be sailing strong for years to come.”

Econowind expects the DNV Type Approval Design Certificate to accelerate adoption of the VentoFoil, particularly among shipowners seeking proven, independently certified technology that can support fuel savings, emissions reductions, and decarbonization goals.

MS Heinz of HS Schiffahrt is among the first vessels to sail under this TADC.The company said the approval builds on Econowind’s growing installed base and further strengthens confidence in wind-assisted ship propulsion as a practical solution to address energy scarcity and high fuel prices. 

In addition to the 3-Series, Econowind offers the 5-Series for the deep-sea market.

 

Photo credit: Econowind
Published: 17 July, 2026

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Alternative Fuels

DNV: How low‑GHG methane can future‑proof LNG-capable vessels

DNV summarises key findings of its Methane in shipping paper, helping shipowners of LNG-capable vessels to meet stricter GHG reduction requirements, and optimise LNG‑based fuel strategies for future compliance.

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DNV: How low‑GHG methane can future‑proof LNG-capable vessels

Classification society DNV on Monday (22 June) published a Maritime Impact article, summarising the key findings of its Methane in shipping paper, helping shipowners of LNG-capable vessels to meet stricter GHG reduction requirements, and optimise LNG‑based fuel strategies for future compliance: 

Excluding LNG carriers, more than 800 ships can run on LNG using mature, proven technology and established infrastructure, with over 600 more on order.

Under the FuelEU Maritime regulation, LNG‑capable ships can remain compliant on fossil LNG until around 2035, depending on engine configuration. Ships fitted with two‑stroke high‑pressure dual‑fuel engines can remain compliant longer than those using four‑stroke low‑pressure dual‑fuel engines, which are more common in cruise ships and RoPax vessels.

Extending LNG compliance with low-GHG options

DNV’s Methane in Shipping white paper indicates that a potential compliance pathway is the use of LNG-compatible low-GHG fuels. LNG ships are compatible with alternatives such as liquefied bio-methane and e-methane. With tightening GHG intensity requirements, these ships are thus well positioned to transition towards lower GHG emission fuels without major retrofits for these alternatives.

t1 ind 636 main drop in fuel options

“Bio-methane and e-methane can achieve very low, or even negative, life cycle emissions depending on how they are produced. LNG-fuelled vessels can progressively decarbonize by blending in or switching to these fuels,” explains Øyvind Sekkesæter, Senior Consultant at DNV and lead author of the paper.

Demand for low-GHG methane will grow with tightening regulations

According to demand projections outlined in the paper, compliance-driven low-GHG methane demand under FuelEU Maritime alone could reach 2–4 million tonnes by 2040, rising to as much as 40–95 million tonnes under the proposed IMO Net Zero Framework’s base target.

t2 ind 636 projected demand for low ghg methane

On the supply side, current production of low-GHG methane is limited, but still higher than many other low-GHG fuel alternatives. Global bio-methane production reached around 7 million tonnes in 2024 and is projected to increase to about 15 million tonnes by 2030. E-methane remains nascent, with only 0.01 million tonnes of operational capacity today, but announced projects could lift this to 0.9 million tonnes by 2030.

t3 ind 636 bio methane production in key markets

While there is significant potential to expand the global supply of low-GHG methane beyond today’s production levels, shipping will compete with other sectors for this supply. Most available supply is already absorbed by power generation and road transport, meaning access for shipping will largely depend on its willingness to pay relative to other users.

Note: The full DNV article can be read here

Related: DNV paper: Existing LNG bunkering infrastructure will ease transition to low‑GHG methane

 

Photo credit: FueLNG and DNV
Published: 23 June, 2026

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Engine

Eight classification societies oversee successful TAT of Everllence ammonia engine

Everllence announced the successful Type Approval Test of its ME-LGIA ammonia-burning engine at its Research Centre Copenhagen.

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Eight classification societies oversee successful TAT of Everllence ammonia engine

Everllence recently announced the successful Type Approval Test (TAT) of its ME-LGIA ammonia-burning engine at its Research Centre Copenhagen (RCC). 

Eight classification societies oversaw the testing that took place from 10 to 12 June, marking the latest phase in the engine’s journey towards its market debut.  

Bjarne Foldager, Head of Two-Stroke Business, Everllence, said: “The TAT is yet another important step as we definitively move from concept development to seagoing engine operation. It confirms the Everllence B&W ME-LGIA as ready for on-board installation and is the last test before actual sea and gas trials. 

“This engine sets new benchmarks in zero-carbon propulsion and digitally connected performance, and has attracted great interest since its development was announced in 2019. It stands testament to Everllence’s unique ability to meet demands and bring innovative fuels to market.”

Everllence officially marketed the ME-LGIA engines at a two-day event in Copenhagen in November 2025. Using the Diesel principle and the well-known, dual-fuel Liquid Gas Injection concept, the engine has a proven track record of several hundred thousand operational hours.

Ole Pyndt Hansen, Senior Vice President, Head of Two-Stroke R&D, Everllence, said: “The TAT is also important in relation to maturing IMO ammonia regulations as it is vital that rules and guidelines are in line with reality to optimise safety onboard vessels. 

“This experience comes from industry and the first ammonia-driven ships, which are expected to operate at sea during 2026, will act as compelling input for the development of these guidelines.”

Everllence also noted that the ammonia TAT marked the end of an era with it being the final TAT at the RCC in Copenhagen before the company moves location to outside the city in late-2027.

 

Photo credit: Everllence
Published: 22 June, 2026

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