Memorandum of understanding covering classification and business advisory will enable organisations to partner on energy transition opportunities.

Lloyd’s Register and Shandong Marine Group  have signed a Memorandum of Understanding  that will allow the two organisations 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 modernised 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, container ships, 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 decarbonisation 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.

Nick Brown, Lloyd’s Register CEO said: “This MoU signifies the start of a significant partnership between one of China’s leading shipping companies and the world’s first marine classification society. China’s position as a global centre for the shipping industry and SDMG’s leading position in the country represents a huge opportunity as the industry grows, whilst taking tangible steps on the pathway towards a sustainable future.

Jiang Guodong, Chairman, Shandong Marine Group said: “Over the years, Shandong Marine Group and Lloyd’s Register have established a good foundation for cooperation in the fields of ship technical audit and certification, ship safety assessment and supervision, and environmental protection. In the future, we will further expand cooperation areas and deepen cooperation in the green and low-carbon development of ocean shipping, ship energy-saving transformation, ship new energy applications, etc. We also hope that Lloyd’s Register will put more business sectors including ship certification, technical services, energy, consulting, etc. in Shandong, and work together to push forward the green and low-carbon and digital transformation, inheritance of friendliness, mutual benefit and win-win situation, and common development.”