- Shipping industry collaborators, including Lloyd’s Register, Knutsen, HD Korea Shipbuilding, and Hyundai Heavy Industries, conducted the inaugural cradle-to-grave lifecycle assessment of a vessel.
- The six-month study, centered around a 174,000 cu m Knutsen newbuild LNG carrier, examined carbon emissions from raw material extraction through ship demolition.
- Key findings highlight that a vessel’s operational phase contributes the most emissions (79%), with the potential for a 90% reduction through the adoption of zero- or low-carbon fuels.
- The study also underscores the significance of incorporating green steel and renewable energy in shipbuilding for substantial emissions reduction.
Operational Phase Dominates Emissions
One of the study’s key revelations is the predominant role of a vessel’s operational period in contributing to emissions, constituting 79% of the overall emissions. Known as tank-to-wake emissions, this phase encompasses the vessel’s activities during its operational life. However, the study points to a remarkable potential for emission reduction, up to 90%, by incorporating zero- or low-carbon fuels during this critical phase.
Green Steel and Renewable Energy Impact Shipbuilding
The lifecycle assessment also shed light on the environmental impact during the shipbuilding stage. The introduction of green steel, characterized by low or zero GHG emissions during manufacturing, could significantly reduce emissions in this phase. Moreover, the utilization of renewable energy during shipyard operations could result in a notable 60% reduction in GHG emissions at the yard level.
Addressing Evolving Regulatory Landscape
As International Maritime Organization (IMO) regulations progressively evolve to encompass the entire value chain, the study aligns with this shift. The incorporation of all emission scopes, including scope 3 emissions that involve the entire supply and distribution chain, positions the assessment as a comprehensive tool for understanding a vessel’s complete emissions profile. With forthcoming regulations like the European Union Corporate Social Responsibility Directive (CSRD), shipowners are expected to disclose sustainability reports, making lifecycle assessments an essential step in meeting these evolving requirements.
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Source: Splash 247
