Lloyd’s Register OneOcean (LR OneOcean) has launched Risk Manager FuelEU, an innovative module designed to enable ship managers, owners, operators, and charterers to seamlessly manage their FuelEU compliance and strategy within a single platform.
The Risk Manager FuelEU module, alongside Risk Manager’s existing EU ETS module, allows users to simulate, plan, and monitor their compliance with the EU’s FuelEU Maritime Regulation and EU ETS requirements.
By integrating these capabilities, Risk Manager offers a comprehensive solution to emissions management, saving users’ time, reducing costs, and helping them avoid financial penalties for non-compliance.
The launch of Risk Manager FuelEU coincides with the start of the EU’s FuelEU Maritime Regulation, which requires vessels over 5,000 GT trading in the EU and European Economic Area to meet greenhouse gas (GHG) intensity reduction targets. Risk Manager FuelEU simplifies this complex compliance process, connecting stakeholders for easy management of FuelEU exposure from start to finish.
Risk Manager FuelEU brings together in-house ship models, multi-objective route optimisation, and high-quality weather forecast data to help users simulate future exposure and implement robust emissions strategies.
The new module actively manages and optimises the GHG intensity and compliance balance of vessels by simulating and monitoring fuel types and consumption. Users can make informed decisions about fuel choices, enabling them to holistically manage their FuelEU strategy while optimising the commercial outcome of voyages. Automatic import of Noon Reports to provide real-time emissions data and exposure profiles is also available through the Risk Manager software.
Risk Manager is integrated with LR tools such as LR Emissions Verifier, providing easy access to voyage validation statements, while tiered user permissions allow expanded access for users across the business based on company needs.
Barry Hooper, Vice President of Product and Technology, LR OneOcean, said: “With its unique approach, wide breadth of functionality, and engaging user experience, Risk Manager FuelEU provides the industry with a complete toolset to actively manage the impacts of FuelEU regulations from start to finish.
“This, combined with Risk Manager's EU ETS module, provides the industry with the complete solution for emissions management under the European Unions ‘Fit for 55’ legislation, making LR OneOcean and LR the industry’s emissions management partner of choice.”
LR’s Emissions Management Portfolio provides a range of services to help clients effectively manage fuel compliance, voyage emissions data, together with verification, advisory, and planning support. As an accredited third-party verifier for both EU and UK MRV and a Recognised Organisation (RO) for IMO DCS, LR delivers reliable verification services.
Additionally, LR Advisory Services supports clients to navigate their energy transition journey, providing a thorough understanding of their risk profile within the new regulatory landscape. From feasibility, through conversion in the shipyard, to in-service operation, LR Retrofit Solutions offer comprehensive services aimed at reducing ship emissions and adapting to low carbon fuels.
