- Global Shipping Embraces LNG-Fueled Vessels.
- LNG Ships Surge, Set to Double by 2028.
- Over 2,000 LNG-Fueled Ships Expected by 2028.
LNG-fuelled vessels are picking pace rapidly as a new source of strength in the international shipping industry. Over 2% of the fleet globally is now composed of LNG-fuelled vessels. According to SEA-LNG, an industry coalition, that alone will increase to 4% by vessel count and 6% by deadweight tonnage (DWT) accounting for the current orders. This is a clear indication of how fast the industry is shifting towards LNG as an alternative fuel, reports Break Bulk News.
Growth in LNG-Powered Fleet
The number of vessels running on LNG has been growing at an astonishing pace in the recent past. While in 2010 there were only 21 such vessels, mainly small regional ships, currently the global fleet counts 590 LNG-powered vessels, including some of the world’s largest container ships.
Adding 564 more ships on order, the LNG-powered fleet will increase to 1,154 by 2028. Counting in the 772 existing LNG carriers and another 341 on order, it will soon be that more than 2,000 vessels will shortly be LNG-powered, meaning the lion’s share of the global fleet, which has about 60,000 large ships.
LNG’s Growing Share in New Build Orders
LNG is growing in the shipping industry as evidenced by new build orders. DNV said that one-third of the new build order book is LNG dual-fuel vessels which further cements LNG as part of the future in maritime shipping. In deadweight tonnes, the fleet in operation and on order by LNG totals 6% of the world’s total DWT with 142.5 million tons out of a total of 2,224 million tons worldwide.
Peter Keller, Chairman of SEA-LNG stated, “It is gratifying that LNG is finally gaining favour among so many shipowners. LNG currently provides the only viable option to making progress towards 2050, starting with immediate carbon reductions, now.” He highlighted LNG’s environmental benefits, such as virtually zero SOx and particulate matter emissions, along with significant reductions in NOx and GHG emissions.
Environmental Benefits and Engineering Challenges
LNG offers significant environmental advantages, but the industry continues to grapple with some challenges. Methane slip, for instance, where a minimal quantity of methane leaks into the atmosphere, has been an issue for many years. Increasing engineering best practices is lessening this impact.
Diesel-cycle engines constitute most of the order book today but have nearly eradicated methane slip. Discoveries made in low-pressure four-stroke engines have reduced methane slip by more than 85% during the last 25 years.
Increasing LNG Infrastructure
This growth is supported by the increasing infrastructure catering to LNG bunkering. LNG is now available at 185 ports around the world, and next year will see more than 50 ports offering LNG bunkering. LNG bunkering vessels have also increased. And from one vessel in 2010, today we are seeing 60 such vessels, and 13 more in the pipeline.
This solid infrastructure is also prepared for future fuels, such as liquefied biomethane, also called bio-LNG and e-methane, which will provide long-term security for shipowners in LNG-fuelled vessels.
LNG’s Role in Maritime Decarbonization
The boom in LNG-fuelled vessels is a reflection of the recognition that shipping, as an industry, gives to LNG as a critical component of decarbonization. Strong investment is being directed continuously toward new infrastructure and technology.
LNG will consequently have to play a critical role for its delivery of emissions reductions and in helping the industry meet its sustainability objectives in the future.
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Source: Break Bulk News
