LNG is expected to be the natural choice for ship owners to meet IMO sulphur limits and to ensure a clean transportation chain, and this was the basis for discussion earlier this year at the 3rd CWC LNG Fuels Summit 2017 in Amsterdam. It was highlighted that ship owners face a dilemma, with fuel choice being determined by availability, pricing, economics, public profile of the new fuel and what others are doing, and that a move to LNG needs ‘board support and strategic direction as an environmental initiative’.
While currently only 0.14% of the world fleet are gas fueled, experts at the conference predict this could rise to 2.75% in the next seven years. The graph above also shows that LNG is already by far the most popular choice for new-build ships.
>> Gain exclusive access to the full 3rd CWC LNG Fuels Summit 2017 Executive Summary here, written by Energy & Strategy Consultant David Ledesma
>> Hear more about the benefits of LNG in marine transportation by attending WGC 2018 in Washington DC next June – register here.