Lloyd’s Register and MARIC receive approval in principle for 114,000 DWT tri-fuel-ready tanker concept

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) have secured Approval in Principle for a 114,000 DWT product and crude oil tanker built to convert to LNG, methanol, or ammonia propulsion. LR granted the AiP, announced at SMM 2026. It marks a step toward vessels that can adapt to whichever alternative fuel pathway ultimately wins out.

AiP granted for flexible-fuel tanker concept at SMM 2026

The announcement came at SMM 2026, one of the maritime industry’s biggest trade events. LR and MARIC used the platform to unveil a tanker concept that doesn’t lock in a single fuel — keeping options open instead.

The vessel is a 114,000 DWT product and crude oil carrier. Its defining feature isn’t size or cargo capacity — it’s the built-in ability to convert to LNG, methanol, or ammonia propulsion as those technologies develop and mature.

The AiP from LR plays a specific role here — validating that the design concept is technically sound and meets relevant class standards at this stage of development.

LR reviewed the design against its July 2026 class rules and regulations, covering requirements for ships using gases and other low-flashpoint fuels, and assessed it against the relevant IACS Common Structural Rules for oil tankers. One important caveat: final classification and statutory approval still require full compliance with all applicable rules. The AiP validates the concept. It’s not a final green light.

Why conversion-ready design is built into the concept from the start

Retrofitting a vessel after it’s built is expensive, slow, and technically messy. Building conversion readiness into the original design aims to cut through that complexity — planning for flexibility upfront is considerably easier than engineering it in later.

LNG is already a relatively mature pathway, with established bunkering infrastructure in major ports and a growing track record in commercial shipping. Methanol and ammonia are a different story. Both are at earlier stages, with open questions around fuel availability, infrastructure build-out, economics, and how regulators will treat them long-term.

Development isn’t moving at the same pace everywhere. Fuel infrastructure, regulation, and economics are all evolving at different speeds across different markets, and a vessel operating across multiple regions has to account for that variability.

Theo Kourmpelis, Global Business Director for Tankers at LR, put it plainly: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead.” That tension — between acting now and the absence of clear long-term answers — is exactly what this concept is designed to navigate.

Implications for fleet investment planning and risk management

Ordering a ship is a long-term commitment. A vessel built today could still be operating in 2045 or beyond, which makes fuel strategy decisions at the design stage unusually consequential.

The tri-fuel-ready concept aims to give owners more confidence in those calls. Rather than betting on one fuel winning out, owners can preserve optionality. If LNG infrastructure expands fastest in their primary trading region, they can convert accordingly. If ammonia supply chains develop and regulation catches up, that pathway stays on the table.

Si Nan, Vice Director of the Marine & Offshore Marketing Department at MARIC, described the intent directly: “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.”

The AiP from LR plays a specific role here — validating that the design concept is technically sound and meets relevant class standards at this stage of development. That matters for owners and financiers deciding whether to move forward. It doesn’t replace full regulatory and classification approval, but it gives the next steps a credible foundation to build on.

Industry context: Shipping’s decarbonization challenge

Shipping accounts for a significant share of global emissions, and pressure to decarbonize the sector is building. The IMO has set increasingly ambitious targets, with port states and cargo owners layering their own requirements on top.

The problem is that no single alternative fuel has emerged as the clear answer. LNG cuts certain emissions but doesn’t eliminate carbon entirely. Methanol has some advantages but needs dedicated infrastructure. Ammonia is carbon-free at the point of combustion yet brings real safety and supply chain challenges. All three are being pursued in parallel across different parts of the industry — none has pulled decisively ahead.

Vessel design decisions made today will shape fleet operations for decades. That’s not abstract — it’s the practical reality shipowners are dealing with right now.

AiP frameworks exist precisely to help navigate this kind of uncertainty. Developers can check whether a design meets class standards in principle, gather feedback, and refine the concept without the full cost and obligation of a classification application for a vessel already under construction.

Flexibility at the design stage reduces risk

Lloyd’s Register and MARIC’s AiP covers a 114,000 DWT product and crude oil tanker designed for future conversion to LNG, methanol, or ammonia propulsion, assessed against LR’s July 2026 class rules and IACS Common Structural Rules for oil tankers.

The concept is built around one core idea: flexibility at the design stage reduces risk across a vessel’s entire operational life. With alternative fuel infrastructure and regulation still evolving at uneven speeds globally, conversion-ready designs give owners a way to stay adaptable without committing too early to a single pathway.

Final classification and statutory approval still require full compliance with all applicable rules. The AiP marks a concept validation milestone — what comes next in development will determine whether and how this design moves toward commercial realization.

Kelly Lippke

Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.