Lloyd's Register, Samsung Heavy Industries and MISC ink MOU for zero-emission VLCCs
Lloyd's Register, Samsung Heavy Industries (SHI) and MISC via its subsidiary, AET, have signed a Memorandum of Understanding (MOU) for the development and construction of two very large crude carriers which can be operated on zero-emission fuel, according to LR's release.
The three companies, all founding members of The Castor Initiative, are taking the lead to encourage the use of green ammonia as propulsion fuel, with the first of these dual-fuel tankers entering into service in late 2025 and the second in early 2026.
The Castor Initiative, a multinational coalition committed to make zero-emission in shipping a reality, includes MISC Berhad (MISC), Lloyd’s Register (LR), Samsung Heavy Industries (SHI), MAN Energy Solutions (MAN), the Maritime and Port Authority of Singapore (MPA), Yara International ASA (Yara) and Jurong Port (JP).
Following the inking of this MOU, The Castor Initiative members will focus on identifying green shipping corridors to facilitate the bunkering of these zero-emission Very Large Crude Carriers (VLCCs).
Motivated by the partners’ shared belief that the maritime industry needs leadership and greater collaboration if shipping is to meet the IMO’s GHG ambitions, The Castor Initiative members will also be looking into the establishment of approved training syllabus for seafarers in at least two maritime training institutions. It is crucial to ensure that the latest training and education is provided to the crew to enable the smooth operations of the zero-emission VLCCs.
