Norwegian shipping group Knutsen will partner with maritime classification society Lloyd’s Register (LR) and South Korea’s HD Korea Shipbuilding and Offshore Engineering (KSOE, KRX: 009540) and its unit HD Hyundai Heavy Industries (HHI) to measure the carbon emissions of a newbuild liquefied natural gas (LNG) carrier across its entire lifecycle.
The companies signed a joint development project (JDP) in Oslo, Norway last week.
According to a joint statement, this will be first “cradle to grave” study in the maritime industry to assess the environmental impact of a ship through all phrases of its lifecycle, from raw material extraction to decommissioning/recycling.
It will cover equipment and component production, transportation to the shipyard, construction and commissioning, operation, and maintenance of the vessel.
“As part of the decarbonization of our sector, maritime organizations need to ensure that they rethink the sustainability of the design, build and operation of vessels,” Andy McKeran, Chief Commercial Officer at Lloyd’s Register, said in a comment.
“This project will give interesting results to be used for further optimization of the fleet and to do more qualified assessments for deciding whether to extend the lifetime of vessels, do conversions/upgrades or build new vessels in order to minimize emissions,” Jarle Østenstad, Director for Newbuilding and Innovation at Knutsen, added.
The output of the study will be a detailed assessment of the environmental impact of an identified LNG carrier and its carbon emissions, quantifying raw material usage, energy inputs and environmental releases during each construction stage as well as the emissions from the operations and eventual disposal of the ship.
Such lifecycle assessments will help organizations improve their regulatory readiness and estimate the impacts of future regulations, and will provide important data to inform their sustainability strategies, according to the statement.
The project will also serve as a basis for Lloyd’s Register to determine rulesets, requirements and guidance on how to assess carbon emissions across the entire lifecycle of a vessel.