• 2023 September 8 11:39

  LR and COSCO sign Letter of Intent for LNG fleet decarbonisation pathway project

  

  Lloyd’s Register (LR) and Shanghai COSCO SHIPPING LNG investment (COSCO), a subsidiary of China Shipping Corporation Limited, have signed a partner agreement for the intention of a new project that aims to formulate and assess the decarbonisation pathway for COSCO Shipping’s existing LNG carrier fleet, according to LR's release.

  The intention was signed formally with a Letter of Intent (LOI) at Gastech 2023 and will focus on providing COSCO 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 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.

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