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News / LNG Bunkering/ DNV GL Alternative Marine Fuels study supports use of LNG as bunkers

DNV GL Alternative Marine Fuels study supports use of LNG as bunkers

18 Sep 2019
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SEALNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, on Tuesday (17 September) released the findings of a new alternative fuels study today which finds that LNG is the most mature, scalable, and commercially viable alternative fuel currently available for the maritime industry.

The study, conducted by Norway-based alternative fuel experts from DNV GL, concludes that while there are a variety of lower or zero carbon alternative fuels that could help to meet the goals of the International Maritime Organisation’s (IMO) 2030 and 2050 greenhouse gas reduction targets, many of these alternatives require significant development to meet the industry’s needs.

The study also notes that many promising alternative fuels currently lack the regulatory framework, production capability and bunkering infrastructure for widespread adoption, and additionally are more expensive than traditional bunkers or LNG.

As such, in a period where the industry is under considerable pressure to take steps to reduce GHG and other emissions to air, LNG is a solution that could help to move the industry forward, while laying the ground work for lower or carbon neutral fuels produced from renewable or zero-carbon energy.

Based on existing industry and academic literature, the study comprehensively evaluates the commercial and operational viability of six of the main alternative fuels: hydrogen, ammonia, methanol, LPG, biofuel, in the form of hydrotreated vegetable oil, and full battery-electric systems.

It examines how they perform against LNG on a set of 11 key parameters, covering considerations such as applicability, scalability, economics and environmental performance.

“Modern ships have a life expectancy of around a quarter of a century. Investors need to know how the capital expenditures for installed engines and their operational costs, including choice of fuel, will be impacted by current and future environmental legislation,” stated SEALNG Chairman Peter Keller.

“With several marine fuel options to consider, SEALNG commissioned this study from DNV GL to support the industry in its decision-making.

“The study provides further backing for our belief that, in order to achieve GHG reductions and improve air quality NOW, ship owners and managers need to act decisively and invest in LNG capable vessels.

“Doing so will improve the long-term sustainability for the shipping industry, while safeguarding a competitive advantage for the ship owners and operators who facilitate global trade.”

The full DNV GL Alternative Marine Fuels Study can be accessed via the following link here.

The Alternative Marine Fuels narrative can be accessed via the following link here.

Photo credit: SEALNG
Published: 18 September, 2019

 

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