BUSAN: Korean Register (KR) released the 14th issue of its quarterly KR Decarbonization Magazine on October 29. The latest issue covers emerging marine SMR regulation, the first-year results of FuelEU Maritime, and technologies to cut methane slip from LNG-fueled engines.
The issue opens with an examination of the regulatory frameworks for marine SMRs and the challenges of installing reactors on vessels, including safety assurance, maintenance requirements, and the cost and complexity of obtaining approvals. The article also reviews recent IMO revision work, the IMO–IAEA collaboration and KR’s own technical projects.
While the regulatory framework for marine SMRs is still under development, FuelEU Maritime, by contrast, is already in effect, and the magazine analyzes its first year of compliance. Ships that fail to meet the mandatory greenhouse gas intensity limits can avoid penalties by pooling their compliance balances with over-compliant vessels. According to KR’s analysis, approximately 92% of ships used pooling in the first year, while the price of compliance surpluses gradually declined to approximately 80% below the penalty level.
Turning from regulation to technology, the issue also features an interview with Minho Kang, Senior Vice President at HD Hyundai Heavy Industries, on engine optimization and exhaust after treatment technologies. He discusses the company’s Methane Oxidation Catalyst System (MOCS), which oxidizes unburned methane escaping from LNG-fueled engines.
Dr. Kanghyun Song, Head of Decarbonization Ship & Offshore Research, said: “The delay in the adoption of the IMO Net-Zero Framework has created uncertainty around green technologies. However, EU regulations are already in effect, while shipowners and financial institutions continue to drive demand for decarbonization. Rather than waiting for regulatory clarity, shipowners should maintain flexibility and strengthen their decarbonization strategies.”
Published quarterly since 2022, KR Decarbonization Magazine is available at kr-decarbonization.co.kr.
