Lloyd’s Register (LR) Advisory has been appointed by Geneva-based LPG trader and shipowner Geogas to support the development of a multi-year emissions compliance plan and operationalisation of FuelEU pooling, as it prepares for the first compliance cycle of FuelEU Maritime.
Under the agreement, LR Advisory will provide expert insight into the commercial implications of current and forthcoming emissions regulations, alongside targeted knowledge transfer to build internal capability. The project will support Geogas Trading to design and implement its own FuelEU Maritime pooling structure and develop the operational frameworks and steps needed to execute pooling.
LR Advisory will also work with the company to map and mitigate commercial risk of FuelEU , helping to shape a forward-looking compliance strategy that extends beyond the initial FuelEU cycle.
Luke Shu, Technical Advisory Manager - Maritime Commercial Markets, LR Advisory, said: “FuelEU Maritime represents a fundamental shift in how emissions regulation affects commercial outcomes.
“Charterers and shipowners are now directly exposed to incentives and penalties that influence day-to-day operational, chartering decisions and P&L. Our role is to support organisations like Geogas understand those impacts in detail and put practical structures in place that allow them to operate confidently and competitively as the regulatory landscape tightens.”
Jean-Marc Baudart, Fleet Manager, Geogas Trading said: “As a trader and charterer with a significant exposure to European trades, it is essential that we fully understand the commercial and operational implications of FuelEU Maritime. Working with LR Advisory allows us to develop a structured compliance strategy that supports our business while maintaining flexibility as regulation continues to develop.”
