Compliance with exhaust emissions requirements (SOX and NOX) can be achieved by a number of options: alternative fuels (including LNG), emissions abatement technologies or in-engine controls. Each option comes with different technical, operational and commercial considerations and with a different technology maturity level.
The complexity and novel nature of some of the options create commercial, technical and regulatory risk for ship owners/operators. If this risk is not managed, it can lead to increased operational costs, failed investment on a large scale or non-compliance (and costs). At the same time, this is a highly competitive market for technology providers and new technologies are often met with scepticism.
We constantly invest in understanding the risks associated with each technology which leads into our Rule development process (LR has dedicated Rules and Notations for abatement technologies, LNG as a fuel and distillates with Rules for Methanol and Hydrogen in progress). Our experts are actively involved in the regulatory development process and participate at technical working groups and committees at IMO and EU level. Finally, we have obtained in-depth understanding of specific technologies through our Classification, Flag and Type Approval of different systems and options.
We can apply our expertise to address any challenge and manage the commercial, technical and regulatory risks. Our solutions include assessing the impact of a compliance strategy, shortlisting options, validating an investment decision, advising on contracts and specifications, conducting a HAZID/HAZOP on a particular technology you are implementing or helping you measure and interpret emissions data. We can also help technology providers overcome the market barriers by validating the performance of their solution.