Lloyd's Register, COSCO partner to decarbonise LNG carrier fleet

Lloyd's Register (LR) and China’s Shanghai COSCO Shipping LNG Investment (COSCO) have signed a letter of intent to partner on a project to decarbonise COSCO's existing LNG carrier fleet, LR announced on September 7.

The project will focus on providing COSCO with insights to enable them to make their existing fleet of LNG carriers carbon neutral by 2040. LR will support COSCO on analysis of their fleet operations characteristics and carbon emissions, looking at future carbon reduction energy transition practices alongside future fuels, energy efficiency technology and retrofit plans.

Sau Weng Tang, Lloyd's register commercial manager - Greater China, said: " “The decarbonisation of our industry is going to require open collaboration between the entire maritime value chain. This is why projects and partnerships like this are so important, they provide an opportunity for fleet operators to thoroughly analyse the options available to them to enable them to reach their own and industry mandated requirements for maritime decarbonisation.”

“In the context of IMO maritime decarbonisation strategy, CSLNG, as an international LNG shipping company, COSCO will endeavour to fulfil the responsibility and accountability to achieve our LNGC fleets' carbon reduction and provide low-carbon and efficient LNG transportation services for the industry. In this effort, we appreciate valuable cooperation between the industrial chain, including the open support from the expertise of LR,” Lin Nan, GM, COSCO said.