New LR report highlights both progress and persistent challenges in equipping existing vessels to meet ambitious emissions reduction targets.
Lloyd’s Register’s (LR) latest Engine Retrofit Report reveals that while the maritime industry has made strides in its ability to execute ship engine retrofits for alternative fuels, a critical lack of supply-side incentives threatens to delay progress.
Since LR’s initial report in 2023, the industry has seen the completion of the first methanol fuel...