LR: Investment Decisions "A Headache" for Shipowners

Energy prices, emissions regulations and untested technology is a "headache" for shipowners.

Energy prices, emissions regulations, and untested technology are giving shipowners a “headache” when making investment decisions, according to Lloyd’s Register (LR).

Volatile fuel prices and stricter emissions regulations mean shipowners are having to make investment decisions when “clearly the market is confused by some of the messages out there.”

Katharine Palmer, Environmental Manager for LR says that ship owners need to focus on energy management and understanding new technology when making their fleets more efficient.

ISO 50001

Lloyd’s Register, who are holding seminars at the Posidonia Exhibition starting today in Athens, Greece, will be advising owners to use the ISO 50001 energy management standard when evaluating investment options for existing fleet, and when ordering new tonnage.

In their press release LR said they can provide owners with the structure to make informed decisions in what is “a complex regulatory environment and make technology evaluations based on different fuel price scenarios.”

They went on to say that an effective energy management approach would help shipowners identify the best options “when choosing technologies, operational parameters and fuel types.”

According to LR, Greek tanker owners are “leading the way” and cited Maran Tankers and Capital Ship Management who, with Lloyd's Register’s support, adopted the ISO 50001 standard earlier this year.

LR seminars at Posidonia will also include the “verification of novel concepts”, the location of LNG-as-fuel storage tanks, and Tom Boardley, LR’s Marine Director, will discuss the future of classification.

“I can’t emphasise enough just how important it is for us to help the industry in finding new ways to combat the rising price of fuel. I see Class as a key facilitator for shipowners and shipbuilders as they seek efficiencies,” he said.