LR to help decarbonize Cosco Shipping’s LNG fleet

Classification society Lloyd’s Register (LR) has signed a deal with Cosco Shipping LNG Investment (Shanghai) to help decarbonize the latter’s fleet of LNG carriers.

According to a statement by LR, the two firms signed a letter of intent and the cooperation will focus on providing Cosco Shipping’s unit with insights to enable them to make their existing fleet of LNG carriers carbon neutral by 2040.

As part of the project, LR will support on analysis of Cosco’s fleet operations characteristics and carbon emissions, looking at future carbon reduction energy transition practices alongside future fuels, energy efficiency technology, and also retrofit plans.

The intended project would see the further development of Cosco’s fleet capacity, future energy adoption and efficiency transformation, based on the shifting landscapes of world trade and the development planning of shipping companies, LR said.

“In the context of the IMO maritime decarbonization strategy, CSLNG, as an international LNG shipping company, will endeavor 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,” Lin Nan, GM of CSLNG, said.

“In this effort, we appreciate valuable cooperation between the industrial chain, including the open support from the expertise of LR,” Nan said.

Founded in 2005, CSLNG specializes in LNG transportation project investment, shipbuilding, and management.

CSLNG jointly owns LNG carriers which transport LNG from the Yamal LNG project in Russia, the APLNG project in Australia, the PNG LNG project in Papua New Guniea, as well as for other projects.

Also, the firm has jointly-owned LNG carriers on order, including the PCI project and the recent two vessels DSIC will build for Sinopec charter.

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