LR OneOcean launches Risk Manager FuelEU
Lloyd’s Register OneOcean (LR OneOcean) has unveiled an innovative module called Risk Manager FuelEU. This new tool is designed to assist ship managers, owners, operators, and charterers in managing their compliance with the FuelEU Maritime Regulation. The module integrates seamlessly with existing systems, providing a comprehensive platform for emissions management. As the maritime industry faces increasing regulatory pressures, this launch comes at a crucial time, enabling stakeholders to navigate complex compliance requirements effectively.
Understanding Risk Manager FuelEU
The Risk Manager FuelEU module is a significant addition to LR OneOcean’s suite of tools. It works alongside the existing EU ETS module, allowing users to simulate, plan, and monitor compliance with both the FuelEU Maritime Regulation and EU ETS requirements. This integration simplifies the emissions management process, making it easier for users to stay compliant with evolving regulations. By offering a single platform for these functionalities, Risk Manager FuelEU saves time and reduces costs for maritime operators.
One of the key features of Risk Manager FuelEU is its ability to connect various stakeholders involved in maritime operations. This connectivity is vital for managing FuelEU exposure from start to finish. The module combines in-house ship models, multi-objective route optimization, and high-quality weather forecast data. These elements work together to help users simulate future exposure and develop robust emissions strategies. This comprehensive approach enables ship operators to make informed decisions about fuel choices and optimize their commercial outcomes.
Moreover, the module actively manages greenhouse gas (GHG) intensity and compliance balance by simulating and monitoring fuel types and consumption. Users can import real-time emissions data through automatic Noon Reports, enhancing their ability to track and manage emissions effectively. This feature is crucial for ensuring compliance with the stringent GHG intensity reduction targets set by the EU for vessels over 5,000 GT trading in the EU and European Economic Area.
Benefits of Integrated Emissions Management
The launch of Risk Manager FuelEU aligns with the start of the EU’s FuelEU Maritime Regulation, which imposes strict greenhouse gas intensity reduction targets. This regulation requires vessels to meet specific compliance standards, making it essential for operators to have effective tools at their disposal. Risk Manager FuelEU simplifies this complex compliance process, allowing users to focus on their core operations while ensuring they meet regulatory requirements.
Barry Hooper, Vice President of Product and Technology at LR OneOcean, emphasized the module’s unique approach and wide range of functionalities. He stated, “Risk Manager FuelEU provides the industry with a complete toolset to actively manage the impacts of FuelEU regulations from start to finish.” This comprehensive solution is designed to help maritime operators navigate the challenges posed by the European Union’s ‘Fit for 55’ legislation.
In addition to its core functionalities, Risk Manager is integrated with LR tools like the LR Emissions Verifier. This integration provides users with easy access to voyage validation statements, enhancing the overall user experience. The module also features tiered user permissions, allowing companies to customize access based on their specific needs. This flexibility ensures that all stakeholders can effectively manage their emissions strategies while maintaining compliance with regulatory requirements.
