Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia. An Approval in Principle indicates that a concept design is feasible in principle against a classification society’s rules, though it does not itself constitute class approval of a built vessel.

Announced at SMM 2026, the biennial maritime trade fair held in Hamburg, the Approval in Principle advances the LNG, methanol and ammonia-ready tanker design, giving owners the flexibility to leverage multiple fuel pathways. The concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve. That pressure stems in part from the International Maritime Organization’s greenhouse gas reduction strategy, which targets net-zero emissions from international shipping around 2050, leaving the industry still debating which fuels will carry the transition.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption. Methanol bunkering is available at a growing but still limited number of ports, while ammonia — a carbon-free fuel candidate at point of use — faces additional hurdles around toxicity handling and the availability of production capacity.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

The next steps for such a concept would typically move from AiP toward contracted newbuilding specifications and full plan approval, with conversion options exercised only as fuel infrastructure and regulation firm up.

Source: Lloyd’s Register