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LR webinar highlights lack of regulatory framework holding up decarbonisation progress

Held jointly with the Environmental Defense Fund, panelists discussed the lack of a clear regulatory framework on which can base their investment decisions.
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UK-based classification society Lloyd’s Register (LR) on Friday (19 February) said the uncertainty of regulations impacting investment decisions in the shipping industry was one of the key points discussed at its webinar held jointly with the Environmental Defense Fund (EDF).

The webinar was held on Thursday, 18 February and chaired by Katharine Palmer, LR’s Global Head of Sustainability.

Lloyd’s Register noted despite the need for speed, the shipping industry does not have the tools to decarbonise quickly enough to meet its own targets.

Without a clear regulatory framework on which shipowners and operators can base their investment decisions, shipping’s decarbonisation process will be too slow. As a result, any chance of the industry itself, through the IMO, retaining control of its own decarbonisation process will be lost.

Taking part in the webinar were Aoife O’Leary, Director, International Climate at EDF Europe, Trafigura’s Rasmus Bach Nielsen who headed the trading house’s shipping operations until recently and is now Global Head of Fuel Decarbonisation, and Tony Foster, CEO/CIO of Marine Capital, a marine asset manager which owns and operates ships on behalf institutional investors.

The following are the points discussed by the panelists at the webinar:

Focus on fuel supply chain

O’Leary emphasised the importance of national and regional decarbonisation measures which, she said, should start to take effect and enable the IMO to copy and broaden them across global shipping as a whole. She stressed the importance of the entire supply chain in measuring the environmental impact of different fuels and said that IMO regulations should not focus solely on the ship.

The production process is important. New fuels could be developed in brown, blue or green processes, she pointed out, with green clearly the most favoured. Such fuels are produced in processes involving no carbon and using sustainable sources of power.

Carbon levy – not complicated 

Nielsen made a robust call for a carbon levy, warning that the IMO risks using past decision-making processes to make decisions for the future. He was referring to an assessment by the UN Agency in 2013 which concluded that a carbon levy was not the way forward. But eight years later, the world has changed, Nielsen declared, particularly after more than a year of pandemic.

He explained that although Trafigura is not an IMO member, its recent submission to the UN agency on the decarbonisation issue had set out how a carbon levy could work. It was not complicated, he said.

The greenhouse gas and polluting emissions of every marine fuel would be assessed. Ships using more polluting fuels would be penalised and their charterers would have to pay a levy into a central fund. This money, held within the industry, would then be used to subsidise the cost of using more expensive low- or zero-carbon fuels.

“We would need a firm regulatory framework, but it’s not that difficult to benchmark these fuels because there aren’t that many [of them],” he declared.

An incentive to do nothing

Foster noted conflicting pressures. On the one hand, the lack of a regulatory framework was potentially an incentive to owners to continue operating “old bangers”, he said, because there is currently no certainty on which to base investment decisions.

“Shipowners don’t know what they’re supposed to be doing and that’s disincentivising change in the short run,” he declared.

Meanwhile, on the other hand, initiatives like the Poseidon Principles were to be welcomed, Foster said, but the related financing criteria should be expected to tighten further, he warned. Indeed, it was not at all clear where the money would come from to fund new acquisitions or existing assets as financing terms became tighter.

Banks and finance houses were coming under increasing pressure from institutional investors and pension funds, he said, but it was by no means whether sources of ‘alternative capital’ would play a bigger role in financing existing and new assets and, if so, whether they would charge more for doing so.

A recording of Lloyd’s Register and EDF webinar is available here.


Photo credit: Lloyd’s Register
Published: 23 February, 2021

 

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LNG Bunkering

Singapore: FueLNG achieves 800th LNG bunkering operation milestone

Bunker tanker “FUELNG Venosa” delivered LNG marine fuel to bulk carrier “MV Ubuntu Humanity” at Eastern Bunkering A Anchorage (AEBA) on 11 July.

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July 20, 2026

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Singapore: FueLNG completes 800th LNG bunkering operation

Singapore’s licensed LNG bunker supplier FueLNG on Friday (17 July) announced the successful completion of its 800th LNG bunkering operation in the republic.

The company said bunker tanker FUELNG Venosa delivered LNG marine fuel to bulk carrier MV Ubuntu Humanity at Eastern Bunkering A Anchorage (AEBA) on 11 July. 

“This achievement is more than just a number,” FueLNG said.

“It reflects the trust our customers place in us, the dedication of our operations team, the professionalism of our marine partners, and our unwavering commitment to safe, efficient, and reliable bunker deliveries.” 

Manifold Times previously reported FueLNG completing its 500th LNG ship-to-ship (STS) bunkering operation.

Related: Singapore: FueLNG achieves milestone of 500th STS LNG bunkering operation

 

Photo credit: FueLNG
Published: 20 July, 2026

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Methanol

Western Baltic Engineering unveils green methanol bunkering vessel design for Klaipėda

Designed for flexible operations in shallow waters and local bunkering routes, the concept features an 800-metric-tonne green methanol capacity and the potential to supply up to 250,000 mt annually.

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Western Baltic Engineering unveils green methanol bunkering vessel design for Klaipėda

Ship design and engineering service provider Western Baltic Engineering on Thursday (16 July) showcased its latest concept design for a green methanol bunkering vessel, developed for the operational needs of the Port of Klaipėda.

Designed for flexible operations in shallow waters and local bunkering routes, the concept features an 800-metric-tonne green methanol capacity and the potential to supply up to 250,000 metric tonnes (mt) annually. 

“It is Western Baltic Engineering’s first concept dedicated exclusively to green methanol bunkering, expanding our portfolio of alternative-fuel vessel solutions,” the company said in a social media post.

“Building on our experience in methanol-ready vessel design, it reflects our continued focus on enabling the industry’s transition to cleaner fuels.”

“As the maritime sector evolves, engineering companies have a responsibility not only to respond to market needs but also to anticipate future challenges,” said Marius Arkusauskas, Director at Western Baltic Engineering.

“By exploring emerging technologies and alternative fuel applications, we help our partners prepare for the next generation of maritime operations while contributing to a more sustainable future.”

 

Photo credit: Western Baltic Engineering
Published: 20 July, 2026

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Alternative Fuels

Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Repsol supplied 2,800 mt of bioethanol to a Maersk container vessel, “Antonia Maersk”, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean.
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July 20, 2026

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Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Spanish energy company Repsol and shipping giant A.P. Moller – Maersk (Maersk) completed the first bioethanol bunkering operation in the Port of Barcelona, according to the port authority on Wednesday (15 July). 

Repsol successfully supplied 2,800 metric tonnes (mt) of bioethanol to a Maersk container vessel, Antonia Maersk, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean. 

The operation demonstrates growing demand for alcohol-based marine fuels, as well as the readiness of the infrastructure, logistics, and operational capabilities required to support their deployment at commercial scale. 

Juan Abascal, Repsol’s Executive Managing Director of Industrial Transformation and Circular Economy, said: “With this supply, we reaffirm our commitment to the decarbonization of maritime transport through solutions that are available today and ready to scale in the future. 

“At Repsol, we provide shipping companies with a reliable supply chain and a multi-energy strategy that combines different renewable fuels to support the sector in a safe, competitive, and sustainable transition.”

The supply took place in the Port of Barcelona under fully commercial conditions, bringing together key players across the maritime value chain and demonstrating how collaboration can accelerate the adoption of lower-emission solutions in shipping. 

The delivery was carried out by Bahía Candela, Repsol’s newest bunker vessel, operated by Mureloil and designed to supply both conventional marine fuels and next-generation energy products. 

During the bunkering operation, Bahía Candela operated using its battery system, enabling the fuel transfer to be completed with zero local emissions, and further reducing the environmental footprint of the operation. 

Prior to the bunkering, Maersk tested ethanol on one of its smaller vessels, the 1,800 TEU feeder vessel Laura Maersk, which in 2023 became the world’s first dual-fuel container vessel able to operate on methanol. Today, Maersk has 23 dual-fuel container vessels designed to operate on methanol; however, the company continues to explore ethanol as an alternative fuel for its methanol-enabled vessels. Laura Maersk has performed sailings on 100% ethanol as well as blends of ethanol and methanol. 

Emma Mazhari, Vice President Energy Markets at Maersk, said: “Following the successful ethanol trials conducted on Laura Maersk, this latest bunkering of Antonia Maersk marks another important step in our efforts to explore scalable low-emission fuel solutions. 

“As the first ethanol trial on one of our large dual-fuel vessels, with a capacity of 16,000 TEU, it allows us to deepen our understanding of ethanol’s operational potential at scale. 

“Building on the experience we have gained with methanol, we are working closely with port authorities and industry partners to develop the infrastructure and procedures needed to support ethanol bunkering. Ethanol is one of several pathways we are pursuing to diversify our future fuel portfolio and help accelerate the development of new, viable liquid marine fuel markets.”

 

Photo credit: Port of Barcelona
Published: 20 July, 2026

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