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Thursday, June 20, 2024

LR, SDMG Exploring Energy Transition Opportunities

Maritime Activity Reports, Inc.

May 17, 2024

(Photo: Lloyd’s Register)

(Photo: Lloyd’s Register)

Lloyd’s Register (LR) and Shandong Marine Group (SDMG) have signed a memorandum of understanding (MOU) that will allow the two organizations to collaborate on energy transition opportunities.

Shandong's economy is the third largest in China and the province, situated on the country’s eastern coast, has successfully modernized its marine sector in the past decade, adopting novel technologies as well as new energy sources and materials.

SDMG, through its various subsidiaries, has a diverse fleet that includes bulk carriers, containerships and gas carriers. It has the largest bulk fleet carrier fleet in China, owning and operating a fleet of handysize, handymax, panamax and capesize vessels.

The group is shifting its focus to developing green energy with pilot projects for onboard carbon capture systems and other decarbonization solutions gaining momentum. Under the MOU, LR will act as a trusted adviser to SDMG supporting the group’s energy transition journey as it continues to trial new energy efficiency and emissions reduction technology.