According to the latest report by Lloyd’s Register –GLOBAL MARITIME TRENDS 2050– the triple planetary crisis, characterized by climate change such as nature, biodiversity loss, and pollution, will be the defining challenge that shapes the decades ahead. In particular, the report which is authored by ECONOMIST IMPACT is part of a new joint multi-year Global Maritime Trends program between Lloyd’s Register…
A joint study released by Environmental Defense Fund (EDF), Lloyd’s Register (LR), and Ricardo PLC examines the potential marine environmental impacts of Ammonia spills during its use as a shipping fuel. Ammonia generated from renewable energy is considered a sustainable alternative to fossil fuels as the shipping industry decarbonizes. The study, which used extensive modelling due to the scarcity of…
The shipping industry is lagging behind other industrial sectors in the all-important field of cyber security. Ben Densham, Chief Technology Officer of Nettitude, the cyber security services provider of Lloyd’s Register, warns of a rising incidence in attacks, with ransomware and targeted cyber assaults both becoming more common. “As the pace of shipping’s digital transformation accelerates, the threat surface is…
Very large fuel tankers run on heavy fuel oil (HFO) mainly because of its low price but HFO emits a substantial amount of greenhouse gas (GHG). Cleaner ways of reducing emissions include shifting to alternative fuels like LNG, biogas, methanol, wind, hybrid-electric, fully electric, fuel cells, or by lowering speed. The Paris Agreement and agreements within the IMO mandate that…
Using Liquefied Natural Gas (LNG) as a marine fuel is a sensible strategy amid tightening regulations, new economic realities and the development of the new zero carbon fuels of the future, says Panos Mitrou, Head of Gas, Lloyd’s Register (LR). Panos Mitrou, LR’s Global Gas Segment Manager, has been dealing with LNG as fuel for the past eight years. Over…
The Poseidon Principles establish a framework for assessing and disclosing the climate alignment of ship finance portfolios. They set a benchmark for what it means to be a responsible bank in the maritime sector and provide actionable guidance on how to achieve this. The Poseidon Principles are consistent with the policies and ambitions of the International Maritime Organization (IMO), including…