Shipping and the environment publication Issue 02 / Spring 2011
Environmental issues remain at the top of the shipping agenda. Forthcoming legislation, rising fuel prices and customer expectations are all driving change in the industry. Companies are evaluating the investment decisions necessary to comply with regulation, to reduce their fuel bills and to meet their customers’ demands.
All of these factors are linked and are shaping the development of today’s shipping industry. It is clear that shipping’s impact on the environment is no longer an externalised factor in economic terms. Immediate priorities are MARPOL Annex VI and Ballast Water Management Convention compliance. However, a big unknown is
the nature or timing of market-based measures that may put a price on carbon emissions which goes beyond the rising market price of fossil fuels.
Ultimately, the adoption of cleaner practices and greener technologies will be influenced by the economic bottom line.
At Lloyd’s Register, we understand that environmental stewardship is an obligation which the shipping community must meet. Owners and operators must also provide transparency, corporate responsibility and maintain profitability, all while operating safely. We have been at the forefront of environmental initiatives in the marine industry for many years, from world-renowned exhaust emissions research in the 1990s to involvement in the development of the Energy Efficiency Design Index (EEDI). Today, we are helping with the evolution of new, more efficient ship designs and technologies.
Our contribution to the development of marine regulations and standards gives us the expertise to help businesses understand and meet their obligations, while our independence allows us to give impartial advice. At the same time, our global research and development network equips us to deliver tailored solutions that enable businesses to operate more safely and sustainably.