The Zero-Emission Accelerating Ship Finance programme, jointly operated by Development Bank of Japan (DBJ) and ClassNK, has evaluated the LPG dual-fuel LPG/ammonia carrier ‘Crystal Odyssey’, owned by Kumiai Navigation and financed by DBJ .
With environmental regulations becoming stricter as the shipping industry moves towards decarbonisation, ClassNK evaluates ships based on a comprehensive scoring model jointly developed with DBJ from the perspective of ‘decarbonisation, environmentally friendly performance, and innovativeness,’ and DBJ provides investment and financing. The project supports initiatives that contribute to the transition to decarbonisation from both IR and financial perspectives.
Kumiai Navigation is a Japanese shipowner based in Singapore which has been taking progressive steps toward the transition to zero carbon, such as placing orders for LPG dual-fuelled LPG carriers ahead of other industry players. The ship evaluated is an 86,700m3 modern LPG dual-fuelled large gas carrier built at Sakaide Works of Kawasaki Heavy Industries, and delivered to Kumiai Navigation in June 2025.
The following points were evaluated in this assessment of the vessel:
- The use of LPG fuel is expected to reduce CO2 emissions by approximately 15% compared to the use of conventional fuel oil.
- The vessel is designed and partially equipped to use ammonia fuel in the future as an ‘ammonia-fuel-ready ship.’
- The installation of an exhaust gas recirculation (EGR) system and a selective catalytic reduction (SCR) system allows the vessel to comply with the IMO Tier III NOx regulations.
- The use of LPG fuel enables compliance with the IMO SOx regulations, particularly the 0.1% limit in emission control areas (ECAs).
As a result, the vessel received a ‘S’ rating, the highest rank in the programme, recognising it as a ship with ‘exceptionally high decarbonisation, environmental consideration, and advanced performance’, acknowledging that significant environmental-related investments have been made.
Through the expansion of the programme, DBJ and ClassNK support shipping and shipbuilding companies’ efforts to contribute to the transition toward decarbonisation and work together to accelerate the energy transition in the entire maritime industry
Image: ‘Crystal Odyssey’ (credit: Kumiai Navigation)
