Connect with us

Business

Titan partner with 123Carbon to offer LNG-based carbon insetting

123Carbon will issue insets to Titan on its registry, providing the company with immutable and transferable tokens, which Titan can manage using a blockchain wallet and transfer to its customers.

Admin

Published

on

229 1

LNG bunker fuel supplier Titan and independent blockchain-based carbon insetting platform for the transport sector 123Carbon, on Thursday (24 August) announced that they have issued the first LNG-based carbon insets, readily available to the market. 

They explained carbon insetting enables fuel suppliers and vessel operators to transfer the environmental benefits of clean, lower carbon intensity fuels throughout the maritime value chain to freight forwarders and shippers.

Carbon insetting allows carriers to share the carbon reductions of their low carbon activities with freight forwarders and shippers across the global value chain, enabling decarbonisation within their own supply chains. 

There are, however, strict requirements on the generation and allocation of these insets. These requirements have been defined on a global level by the Smart Freight Centre (SFC), a Netherlands based NGO, which was also involved in the development of the ISO14083-norm for transport carbon accounting earlier this year. Last June, the SFC published their multi-modal Book & Claim methodology, which deals with topics like calculation rules, additionality, allocation and reporting of insetting.

Based on this global methodology, 123Carbon will issue insets to Titan on its registry, providing the company with immutable and transferable tokens, which Titan can manage using a blockchain wallet and transfer to its customers. Every token issued on the 123Carbon platform contains all information on the emissions reduction project, including the emissions factors used, risk mitigation actions and external assurance – providing a unique level of transparency to the market. 123Carbon also partners with AllChiefs and Verifavia and will provide Titan with a robust, standardised implementation process and assurance protocol.

Titan, 123Carbon and AllChiefs have collaborated to develop a bespoke approach for (bio-)LNG ship operators and ensure that transparency and inset integrity are guaranteed throughout the entire value chain. One of the results of this approach is that the generated LNG-insets are considered fully additional – one of the most important elements that defines the integrity of an inset. This means that these specific insets were not derived by making use of local incentive schemes such as the Dutch HBE-system, they can be purchased by any party, without any concern of double counting or claiming such reductions.

Titan was the first marine company to hold a wallet on the 123Carbon insetting platform and, as a result of this partnership has now issued its first tokens for ship operators bunkering lower emission or net zero fuels like LNG or LBM (liquified biomethane/bio-LNG), in line with FuelEU Maritime standards. Titan is actively engaging carriers with an LNG-fleet to tokenise their activities and scale this solution across the market. It is also in active discussions with shippers that are seeking high quality and affordable insets that provide transparency and integrity.

Caspar Gooren, Director Zero-Carbon at Titan, said: “Insetting can be an effective means of expediting the energy transition in shipping, which is currently blocked by price levels; fossil fuels remain cheaper than renewable fuels. The insetting system helps to finance this price gap. It forms a new carbon economy: a new system that can incentivise the use of cleaner fuel alternatives.”

“We are delighted to be working with 123Carbon to help bring this nascent tool for sustainable shipping into the mainstream marine operating environment. Through the leading 123Carbon platform, all partners within its ecosystem can have a significantly positive influence on the decarbonisation of marine supply chains. Titan wants to support and embrace initiatives that improve transparency and allow it to put a better price on carbon reductions as this will trigger vessel owners to further invest in more eco-friendly ships; the upcoming regulations from Europe will further stimulate this as well.”

Jeroen van Heiningen, Co-Founder and Managing Director of 123Carbon, said: “The need for carbon insetting is clear. We now need the right tools to generate and transfer these insets safely and transparently. Our platform provides just that. We are pleased to be working with Titan and expand the scope of insets that have been generated on our platform to include LNG and LBM. We are proud to play a part in accelerating the decarbonisation of transportation through our trusted solution and are convinced many other fuel providers and carriers will join our platform in order to share their impact.” 

Nicolas Duchêne, President of Verifavia, said: “Transparency stands as a cornerstone advantage of insetting, ensuring financial resources remain within the sector to drive enhancements. Crucially, the accountability and validation of insetting tokens and their value are prioritised, underscoring the need for precise calculations. It remains imperative that the purchase of a token signifies a legitimate reduction of carbon emissions within the sector, aligning fully with greenhouse gas protocols.”

AllChiefs, the sustainability-centric consultancy, has been advising the partners on how carbon insetting fits, and will fit, within regulations such as FuelEU Maritime and the Global Logistics Emissions Council (GLEC) framework.

 

Photo credit: Titan
Published: 29 August, 2023

Continue Reading

Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

Admin

Published

on

By

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

Continue Reading

Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Admin

Published

on

By

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

Continue Reading

Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

Admin

Published

on

By

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

Continue Reading
Advertisement

OUR INDUSTRY PARTNERS



Trending