The assessment by the bank and classification society is part of their joint initiative, Zero-Emission Accelerating Ship Finance Program.
On delivery, the vessel will be chartered to Fairfield Japan Ltd, a subsidiary of US-based Fairfield Chemical Carriers Inc, and financed by the Japanese bank. This project is one of the initiatives taken by the chemical tanker operator recently to decarbonise its operations.
The process of evaluating the vessel, Japan’s first LNG dual-fuelled chemical tanker, included compliance with Energy Efficiency Design Index Phase 3 requirements prior to their enforcement; ensuring that SOx, NOx, and particulate matter emissions meet IMO Tier III regulations; and addressing the need for environmentally sound recycling by developing and maintaining an Inventory of Hazardous Materials as required by the IMO’s Hong Kong Convention on ship recycling.
The move comes against a backdrop of mounting concern that shipping is not moving fast enough in its decarbonisation efforts.
A wide range of ship finance institutions have pledged to play their part through the Poseidon Principles initiative in which membership continues to expand. However, owners and operators point to the uncertainty surrounding the marine fuels of the future and design experts warn that ships ordered and built today will probably need to undergo major retrofits during their lifetimes.
Through the expanding Zero-Emission Accelerating Ship Finance Program, the bank and classification society are aiming to support shipowners and builders in their efforts to decarbonise operations and accelerate the energy transition that is required across global shipping’s operations.
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