Classification society DNV on Tuesday (11 March) has published a slideshow to highlight key findings and recommendations from its new white paper on how wind-assisted propulsion systems (WAPS) can help shipowners meet GHG regulations and cut compliance costs.

The paper offers crucial guidance and considerations to determine the most suitable WAPS business case for specific operational and decarbonization needs. 

DNV said WAPS have already delivered significant fuel savings and GHG emission reductions in recent years. 

“However, it is a complex topic requiring a thorough evaluation process to find the best system for your operational and design requirements to unlock the full decarbonization potential,” DNV said. 

DNV recommended that to identify design and operational challenges to successful WAPS implementation, the decision making process starts by assessing the technical feasibility early on in the planning stage. 

Note: The new slideshow can be found here while the white paper can be downloaded here. 

Photo credit: Berge Bulk
Published: 13 March, 2025

Mitsui O.S.K. Lines, Ltd. (MOL) on Thursday (30 February) said the multi-purpose vessel Prima Verde, operated by its group company MOL Drybulk and owned by Daishin Shipping, was delivered at Onomichi Dockyard.

The vessel has a range of environmentally friendly features, and is the world's first vessel of any type to use green steel materials, an engine that can run exclusively on marine gas oil (MGO) and a wind assisted vessel propulsion system.

JGreeX, a green steel material supplied by JFE Steel Corporation that significantly reduces CO2 emissions, in which CO2 emission reductions in the steel manufacturing process are allocated to optional steel materials, is used for the vessel's hull.

The vessel is also equipped with an engine from Japan Engine Corporation that can run exclusively on MGO. The engine has high combustion efficiency and low carbon dioxide emissions during operation.

It is also equipped with two VentoFoil wind power assisted vessel propulsion devices from ECONOWIND B.V., for which MOL Techno-Trade, Ltd. serves as a sales agent. 

The installation is expected to reduce fuel consumption and greenhouse gases (GHG) emissions by utilising wind power for propulsion.

Photo credit: Mitsui O.S.K. Lines
Published: 4 February, 2025

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