An increasing number of shipowners are opting for dual-fuel vessels such as LNG-powered ships in order to meet environmental regulations, reported Business Korea on Friday (17 June).
This year, three major South Korean shipbuilders received a total 154 orders, and 68 were for newbuildings which can utilise either LNG or methanol as an alternative bunker fuel.
Further, orders of vessels fuelled by a single type of bunker fuel were concluded with either scrubber installations or future-ready designs to accept LNG, ammonia or hydrogen as a bunker fuel.
Specifically, the dual-fuel orders were 30 out of 111 at Korea Shipbuilding & Offshore Engineering; 24 out of 24 at Daewoo Shipbuilding & Marine Engineering; and 14 out of 19 at Samsung Heavy Industries.
According to Clarksons Research, the ratio of alternative fuel vessel orders, which was 32.7% in 2021, is increasing fast.
The ratio of such vessels in operation increased from 2.2% to 3.9% from 2017 to 2021 and reached 4.5% recently; it is expected to top 5% in 2022.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.