ABS is part of a joint development project (JDP) with the Mærsk McKinney Møller Center for Zero Carbon Shipping and leading global players in the marine and offshore industries to assess the technical, financial and environmental potential of converting existing vessels to zero-carbon fuels and technology.
Together with JDP partners A.P. Moller – Maersk, MAN Energy Solutions, Mitsubishi NYK, Seaspan and Total, ABS and the Center will assess conversion options and de-risk asset investments by analyzing the emission reduction potential as well as the techno-economic opportunity of converting vessels currently fueled by fossil-based fuels to zero- or neutral-carbon fuel solutions.
The project will also identify a number of technical modifications of relevance for today’s new buildings to reduce the cost of future conversions, thus minimizing the associated financial risk for shipowners. The project partners will address various vessel types including containers, tankers and bulk carriers and their potential conversion from fuel oil, LNG and LPG to future solutions such as ammonia or methanol. The financial assessment will cover items such as conversion-, technology- and fuel costs as well as associated operating costs, whereas the environment assessment will, among other things, cover the greenhouse gas reduction potential over the lifetime of a vessel.
The project is informed by the ABS Guide for Gas and Other Low-Flashpoint Fuel Ready Vessels, which introduced an Alternative Fuel Ready program for the marine industry, identifying all technical issues that must be considered in development of low- and zero-carbon fuel designs.