Technical advisory and asset management specialist Bureau Veritas Solutions Marine & Offshore and low-carbon energy service provider ENGIE have teamed up to provide advisory and hedging services to support ship owners, operators, and charterers in navigating the complexities of greenhouse gas reduction requirements.

BVS’s collaboration with ENGIE’s Global Energy Management & Sales entity to develop a suite of advisory and market access services to help shipping interests to thoroughly understand upcoming regulatory requirements, manage their risk and identify the optimal low-carbon emissions roadmap for their operations.

The tie-up aims to provide vessel owners, operators and charters with the expertise and insight they require in managing their marine fuels and carbon prices exposures in the context of an increasingly differentiated marine fuels market, by fuel type, geographic location, and carbon intensity. This will provide BVS and GEMS’s customers with a low carbon emission transportation roadmap that fits with their commercial and operational requirements and aligns with their risk management needs.

Paul Shrieve, president of Bureau Veritas Solutions Marine & Offshore, said: “For customers facing unprecedented complexity in global energy markets and an increasingly diverse marine fuels landscape, this partnership offers a one-stop-shop for clarity and expert guidance on developing the appropriate fleet GHG strategy, and associated risk management.

“Understanding the operating profile of your vessels, your marine fuel requirements and GHG impact is an essential step, but it’s important to also understand how that translates into a low-carbon operating model that meets your operating needs, spanning different vessel types and fuels, and different regions and regulatory regimes.”

Marc Pannier, executive committee member at ENGIE’s GEMS division, added: “In an increasingly complex carbon market, the move to include maritime emissions in the EU emissions trading system is another important consideration for shipping organisations that want to chart a course towards a low-carbon roadmap that meets their fleets’ needs and cuts their emissions, whilst also limiting their exposure to price volatility.

“Through this partnership with BVS, we will work with shipping organisations to develop and execute strategies that manage the risks they face and seize the opportunities in today’s global energy markets through the right choice of hedging tools, as well as carbon offsetting solutions.”

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