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

Wind-assisted propulsion technology developer bound4blue on Tuesday (10 December) said Singapore-headquartered Eastern Pacific Shipping (EPS) has signed a contract with it for three 22m eSAILs®.

The fully autonomous Wind Assisted Propulsion System (WAPS) will be installed on a newbuild MR Tanker by New Times Shipbuilding in Jiangsu Province, China in late 2025.

The agreement follows EPS’s first project with bound4blue earlier this year, which involved retrofitting three eSAILs® on Pacific Sentinel, a 50,000dwt vessel, in February.

bound4blue said it is experiencing a surge in orders for its DNV Type Approved system, which works by dragging air across an aerodynamic surface to generate propulsive efficiency. This helps reduce vessel fuel use, OPEX and emissions to air, while also enhancing regulatory compliance.

“In 2024 alone, bound4blue saw exponential growth, increasing from four projects on the orderbook to fourteen, with four installations up and running,” it said on its website.

EPS’s decision to incorporate eSAIL® technology aligns with its broader decarbonisation strategy, which includes dual-fuel vessels, biofuels, voyage optimisation systems, and carbon capture technologies.

Daniel Mann, Chief Commercial Officer (CCO) at bound4blue, said: “We’re thrilled to be collaborating once again with EPS, one of the leaders at the forefront of the shipping industry’s green transformation. Their adoption of our eSAIL® technology not only reflects their commitment to greener shipping but also paves the way for broader industry adoption of Wind Assisted Propulsion Systems. These systems offer a proven, mechanically simple solution to reduce emissions, cut costs, and meet regulatory requirements such as FuelEU Maritime, CII, and EU ETS. We are thrilled to support EPS in achieving its ambitious sustainability goals.”

Mirtcho Spassov, Decarbonisation Manager at EPS, said: “We’re excited to be working alongside bound4blue and New Times Shipbuilding to install our first wind-assisted propulsion system on a newbuild vessel. This project represents a significant milestone in our decarbonisation journey and lays the foundation for wider adoption of WAPS technology across our fleet.”

EPS manages an extensive fleet comprising over 300 vessels with a combined DWT of 31 million.

Photo credit: bound4blue
Published: 11 December, 2024

Wallenius Marine recently said it conducted advanced wind tunnel tests from 6 to 9 December aimed at realising the world’s first wind-powered PCTC (Pure Car and Truck Carrier) vessel. 

The tests were carried out in Gothenburg, at one of Europe’s most advanced wind tunnels, with wind speeds of up to 250 km/h.

Wallenius Marine gathered with experts from RISE, KTH, and Oceanbird in Gothenburg for a series of crucial tests to validate the latest design for wind-powered PCTC vessels.

The firm said these tests will not only confirm the design but also contribute to the development of new data simulation models for wind-powered ships.

“We are currently at a central stage in the design process where we want to ensure that our design meets all technical and operational requirements before we finalise the tender design,” said Carl Fagergren, Senior Project Manager at Wallenius Marine.

The tests are being conducted by RISE Maritime Department (former SSPA), which has also constructed a 5 x 2 meter model using advanced technology. The model weighs 1.2 metric tonnes and is used to simulate the full aerodynamic performance of the ship in the wind tunnel. Previously, wing sails have been tested independently without a hull, but this combination of hull and multiple wings in a large tunnel with a full-scale model makes this test unique. This round of tests included:

• The interaction between the vessel’s hull and six high-tech wing sails.
• Testing the optimal distance between hull and wing for maximum performance.
• Testing three different types of command bridges and their impact on the vessel’s performance.
• How “off-design conditions” affect the ship’s operation, such as when a wing sail is positioned at the wrong angle or location.
• Data for the development of wing control systems

The next important step is during 2025, when the Oceanbird wing sail will be tested live aboard Wallenius Wilhelmsen’s vessel Tiranna. 

“This will give us further input on the journey towards zero emission shipping and the development of the ship design,” Wallenius Marine said. 

Photo credit: Wallenius Marine
Published: 10 December, 2024