Greek tycoon George Economou has committed to an efficiency and decarbonisation analysis of his tanker and gas carrier fleets with UK class society Lloyd’s Register.

The two sides signed a deal at Posidonia as part of a joint energy transition strategy project.

The aim is to develop an “ambitious” road map for TMS Group’s fleet compliance.

The project will focus on three critical stages, the partners said.

The first step is to examine TMS’ existing business and sustainability strategies by evaluating ongoing initiatives, performance efficiencies and alternative fuels.

This will give a picture of baseline emissions and operational constraints.

The partnership will then focus on a detailed examination of TMS Group’s compliance with Carbon Intensity Indicator regulations and its strategies to meet future environmental regulations such as the European Union’s Fit for 55 initiative and the International Maritime Organization’s mid-term measures.

The project will conclude with a strategic plan developed using the data, including short, medium and long-term initiatives.

“The collaboration will also feature continuous progress tracking, regular stakeholder meetings and the delivery of detailed reports to ensure transparency and alignment with TMS Group’s strategic goals,” the two sides said.

TMS Cardiff Gas has 17 operational LNG carriers, plus another seven on order, as well as four LPG/ammonia ships under construction.

An era of changes

TMS Tankers controls a VLCC and an aframax, according to UK shipbroker Clarksons, but the parent Cardiff Marine group is listed with many more VLCCs, suezmaxes, aframaxes and LR2s.

George Kourelis, general manager of both TMS companies, said: “We are in an era of changes, investing heavily in new construction and fleet expansion, ensuring that our fleet remains energy efficient.”

“It is imperative that we explore all potential future compliance pathways and strategies to ensure our fleet meets future environmental regulations,” he added.

Lloyd’s Register chief commercial officer Andy McKeran: “We are excited to work alongside TMS in this strategic partnership.

“This project represents a significant step towards sustainable shipping, and we are committed to leveraging our expertise to help TMS navigate the complexities of the energy transition.”