LR, Greek Shipping Leaders Launch Global Emissions Reduction Center

February 20, 2024by CN_MAR

The Lloyd’s Register (LR) Maritime Decarbonization Hub, in collaboration with prominent Greek shipowners such as Capital Group, Navios Maritime Partners, Neda Maritime Agency, Star Bulk, and Thenamaris, has established the Maritime Emissions Reduction Centre (M-ERC). This initiative is dedicated to enhancing the efficiency of the existing fleet, aiming to dismantle technical, investment, and communal hurdles that impede the adoption of solutions to diminish greenhouse gas (GHG) emissions globally. M-ERC serves as a pioneering collaborative platform, providing a ‘safe space’ for stakeholders across the maritime value chain to confidently progress toward net-zero emissions.

M-ERC’s mission extends to fostering the adoption of innovative and current solutions to accelerate the maritime sector’s energy transition. Through applied research and innovation, the center is set to clarify uncertainties and dismantle barriers, thereby facilitating the immediate adoption of impactful technologies and solutions. Additionally, M-ERC is committed to optimizing operational efficiencies and addressing commercial challenges faced by stakeholders, ensuring that the maritime industry is well-equipped for the energy transition. This includes preparing the workforce with the necessary training and skills through collaborative efforts with shipyards, equipment manufacturers, society at large, ports, and seafarer organizations.

Nick Brown, CEO of Lloyd’s Register, emphasizes the importance of maximizing efficiency within the current fleet to mitigate fuel consumption, which remains vital today and will continue to be beyond 2050. He highlights the role of energy-saving technologies and operational practices in achieving the International Maritime Organization’s (IMO) target of a 30% emissions reduction within the next six years. The Maritime Emissions Reduction Centre in Athens stands as a critical support for the industry, guiding the evaluation and implementation of both existing and novel solutions.

Evangelos Marinakis, Chairman and Founder of Capital Maritime & Trading Corp., expresses pride in joining this alliance, which seeks to create a research and innovation ecosystem in Greece’s shipping industry. He underlines the necessity of a collective approach to navigate the challenges of energy transition within the shipping sector, praising the Maritime Emissions Reduction Centre as a vital step towards a collaborative, safe, and sustainable decarbonization pathway.

Angeliki Frangou, Chairwoman and CEO of Navios Maritime Partners LP, and Charis Plakantonaki, Chief Strategy Officer at Star Bulk Carriers Corp., both reaffirm their organizations’ dedication to sustainable change and the importance of Athens as a global maritime nexus. They stress the significance of collaborative efforts in reducing carbon emissions and enhancing the industry’s energy efficiency.

The partnership between the LR Maritime Decarbonization Hub and Greek shipowners aims to attract both global and regional investments to support the center’s mission. This endeavor is expected to draw more stakeholders into the initiative, further strengthening the collective effort towards a sustainable maritime future.


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