One of the largest obstacles to widespread take-up of LNG as fuel is the lack of a bunkering infrastructure. Lloyd’s Register (LR) has been researching the issues around a bunker network and infrastructure for the shipping industry and initiated a study examining trade patterns and existing bunker trends by ship type and size; examining the fuel consumption requirements; assessing the potential availability of LNG worldwide; and surveying the key stakeholder groups of shipowners and ports to understand their needs. Read the findings here.
Report by Germanischer Lloyd on Costs and benefits of LNG as ship fuel for container vessels states:
Using LNG as ship fuel promises less emissions and, given the right circumstances, less fuel costs. The attractiveness of LNG as ship fuel compared to scrubber systems is dominated by three parameters:
- Investment costs for LNG tank system
- Price difference between LNG and HFO
- Share of operation inside ECA
With 65% ECA exposure, LNG system payback time below two years is predicted for the smaller vessel sizes (using the standard fuel price scenario).
For the 2,500 TEU vessel, a comparison of payback times for the scrubber and for the LNG system, and varying LNG prices, shows that the LNG system is attractive as long as LNG (delivered to the ship) is as expensive as or cheaper than HFO, when the fuels are compared on their energy content. Read more »