Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to Oshima Shipbuilding Co., Ltd. for its multi-fuel-ready Ultramax bulk carrier design.
The AiP covers a 64,000 dwt bulk carrier concept developed to accommodate multiple future fuel pathways, including ammonia, methanol and methane (LNG), alongside provision for onboard carbon capture and storage (OCCS). The approval was formally presented at Oshima Shipbuilding’s headquarters in Japan on 23 January 2026.
Oshima’s multi-ready approach enables shipowners to defer final fuel decisions while safeguarding asset value and operational relevance over the vessel’s lifetime.
LR conducted a comprehensive technical review of the design in accordance with its ShipRight Risk Based Certification framework. This process assessed the safety, feasibility and integration of the proposed fuel and carbon capture arrangements, providing independent assurance that the concept can progress towards detailed design and potential construction.
Sung-Gu Park, North East Asia President at Lloyd’s Register, said: “The maritime industry is navigating a period of profound uncertainty as operators evaluate future fuel pathways, infrastructure development, and evolving global regulatory expectations.
“Oshima’s approach, embedding flexibility for ammonia, methanol, LNG, and onboard carbon capture from the outset, provides shipowners with a practical and future resilient solution as they plan their decarbonisation strategies.
“We look forward to continuing our partnership with Oshima Shipbuilding and working together to help accelerate the safe and scalable adoption of next generation technologies across the global fleet.”
Dr Junichi Man, Managing Director of Oshima Shipbuilding, said: “We are honored to receive this approval from Lloyd’s Register for our multi-ready vessel concept. As future fuel options diversify and global regulations continue to evolve, flexibility is becoming increasingly important for shipowners. By enabling compatibility with ammonia, methanol, LNG, and onboard CO₂ capture systems (OCCS), our concept offers a practical and future-ready solution.
“This AiP was made possible through close collaboration between our engineering team and LR’s experts, whose technical insights and rigorous risk-based assessment greatly enhanced the concept. We sincerely appreciate their support.”
The AiP strengthens the long-standing relationship between LR and Oshima Shipbuilding and underscores the importance of early-stage assurance in accelerating the adoption of next-generation technologies.
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