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ClassNK unveils fleet GHG cost simulation calculator
A simulation tool has been developed to help the shipping industry to comply with increasing environmental regulations
Shipping faces rising costs to remain compliant with tightening legislation for cutting greenhouse gas (GHG) emissions coming from IMO and regional regulators such as the European Union (EU).
Classification society ClassNK has introduced a digital tool enabling shipowners, operators and managers to calculate their fleet costs to comply with greenhouse gas (GHG) related regulations.
Its fleet-cost simulation is part of ClassNK’s services supporting the shipping industry’s decarbonisation efforts and transition to using low-carbon fuels. This new digital service estimates the cost impact of GHG emissions reduction regulations including IMO’s mid-term measures, EU-ETS and FuelEU Maritime.
It features a fleet-cost calculator ClassNK said “simulates future cost fluctuations due to fuel conversion”, and a cost-estimation report tool, summarising the total cost outlook for an entire fleet through graphs and tables.
“This service significantly reduces the workload for cost estimation and documentation, enabling clients to obtain reliable cost data for use in business planning,” said ClassNK.
This fleet-cost simulation enables flexible customisation of assumptions, including ship and fuel prices, vessel replacement timing, fuel efficiency improvement rates and GHG emissions factors.
It will be upgraded to cover IMO’s upcoming GHG fuel intensity (GFI) metric when this is scheduled to come into effect on 31 December 2027.
ClassNK’s cost-estimation report in PowerPoint format summarises cost projections up to 2050 in graphs and tables, based on actual fuel consumption data. It reflects cost factors that affect business including shipbuilding, fuel and regulatory compliance and can simulate and analyse the timing and effects of fuel conversion to optimise expenditure if requested.
ClassNK said it will continue to support its shipping clients in their decarbonisation efforts by continuing to enhance its transition-support services by updating its simulation and calculator.
Maritime Decarbonisation, Europe: Conference, Awards & Exhibition 2025address critical environmental issues head-on. Focused on the industry’s energy transition, the conference offers a comprehensive forum for all stakeholders across the maritime sector to explore solutions and strategies for achieving low-carbon shipping and zero-emission shipping.
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