The American Bureau of Shipping (ABS), PaxOcean, and Pacific Carriers Limited (PCL) have signed a Memorandum of Understanding (MoU) to collaborate on developing retrofit strategies for aging vessels. This partnership aims to enhance the operational efficiency and sustainability of vessels in response to tightening decarbonization targets.
Addressing Global Decarbonization Goals
As the maritime industry faces increasing pressure to reduce emissions, retrofitting vessels with Energy Efficiency Technologies (EETs) presents a practical solution. These upgrades allow aging vessels, such as bulk carriers, tankers, container ships, and gas carriers, to comply with modern standards, extending their operational lifespan and contributing to global climate goals.
Key objectives of the partnership include:
- Identifying effective retrofit solutions for different vessel types.
- Analyzing trends in the retrofit market to guide medium- and long-term strategies.
- Supporting shipowners in aligning their fleets with future regulations while maintaining operational efficiency.
Collaborative Expertise Driving Innovation
Each partner brings unique strengths to the initiative:
- ABS will contribute feasibility assessments and technical solutions to ensure retrofits meet regulatory and operational demands.
- PaxOcean will focus on the technical execution and implementation of retrofit strategies.
- PCL will provide operational insights to ensure solutions are practical and cost-effective for shipowners.
Industry Leadership Statements
- Christopher J. Wiernicki, Chairman and CEO of ABS:
“Retrofit of low-carbon and energy efficiency technologies is critical for meeting decarbonization targets. This partnership combines expertise and innovation to support fleet sustainability while reducing carbon intensity.” - Tan Thai Yong, Managing Director & CEO of PaxOcean:
“By leveraging our shipyard capabilities, we aim to develop innovative retrofit strategies that enhance vessel lifespan and advance decarbonization goals.” - Hor Weng Yew, Managing Director & CEO of PCL:
“Retrofitting is a viable solution to meet decarbonization targets while maintaining operational efficiency. Through this partnership, we aim to deliver practical insights that benefit the entire industry.”
Advancing the Maritime Industry
This MoU underscores the importance of retrofitting as a strategic response to global decarbonization efforts. The collaboration between ABS, PaxOcean, and PCL represents a milestone in aligning sustainability goals with operational realities, ensuring the maritime sector remains resilient and compliant in the face of evolving challenges.
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Source: PCL
