Zeus: LNG-Powered Ship Orders Rise 26 Percent in Six Months

Zeus: LNG-Powered Ship Orders Rise 26 Percent in Six Months

Following a world survey of the marine industry, Zeus Development Corporation has identified 63 LNG-fueled ships in operation or under development, up from 48 units last December.

These ships do not include more than 300 tankers that also consume LNG.

June 6-7, Zeus will host an LNG-Fueled Marine Advancements meeting to present the survey, review trends and tour a unique new LNG-turbine propulsion system by GE.

Accelerating growth is what you would expect under these circumstances. What surprised us is the rate,” Tom Campbell, LNG-fuel analyst at Zeus, said. “High oil prices, impending emissions regulations and technical advancements are propelling the market faster than we expected.”

A key factor is International Maritime Organization Tier III emissions standards, which are slated to take effect in 2015-2016. The regulations require operators to reduce sulfur and nitrogen oxide emissions. For existing ships, after-exhaust treatment is proving more popular, but for newbuilds, operators are taking advantage of LNG’s unique properties.

As LNG is better understood, architects are able to design ships specifically for LNG storage and propulsion,” Campbell said. “Firms such as Wärtsilä now offer integrated onboard fuel delivery systems and power units for shipbuilders.

Zeus’ survey finds that LNG usage is growing beyond coastal ferries in Europe and offshore service vessels for the oil and gas industry, to large cruise ferries and container vessels while expanding geographically from Europe to North America and Asia. Currently projects underway in Belgium, Sweden, Finland, South Korea, Singapore, Japan and elsewhere have made efforts to offer LNG bunkering and incentives to support LNG-fueled marine technology.

Representatives from the following companies will attend the Houston meeting June 6-7: Argent Marine, Bestobell, Caterpillar, Chaney LNG Engineering, CH-IV, Cheniere Energy, DNV, Freeport LNG, General Dynamics, GE, Honeywell, Huntington Ingalls, Idemitsu Kosan, IPR-GDF SUEZ, J.E. McKechnie, John W. Stone Oil, Lake Michigan Carferry, Lockheed Martin, Longbow Technology, MAN Diesel, Martin Energy, Puget Sound Energy, Repsol, RRJ Management, Shell, Taylor Wharton, Tidewater and Wärtsilä.

LNG World News Staff, May 16, 2012; Image: Wärtsilä

Share this article

Follow LNG World News

Events>

<< Dec 2016 >>
MTWTFSS
28 29 30 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Central & Eastern European Gas Conference

Central & Eastern European Gas Conference (CEE Gas) is bringing together all key stakeholders including gas suppliers…

read more >

Fundamentals of LNG

Operational and commercial essentials of the Liquefied Natural Gas (LNG) sector – training course by tutored distance learning…

read more >

CWC’s World LNG Summit & Awards Evening

Now in its 17th year, the CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry…

read more >

Floating LNG

Despite challenging market conditions, global capital expenditure (Capex) on FLNG facilities is forecast to increase significantly over the 2016-2022 period. The protracted oil price downturn has impacted the sanctioning of capital intensive liquefaction units over the last 24 months. However, the need to move towards cleaner sources of energy and diversify gas supply has stimulated the floating regasification market – over 14 countries are expected to commission their first floating import unit over the forecast period. Against this backdrop, SMi’s 5th annual Floating LNG conference will provide attendees with strategic insight on the latest developments within the FLNG market to optimise activities and ensure project sustainability and success. The two-day programme will also equip you with the tools to overcome the logistical, financial, technological and economic challenges associated with FLNG deployment and ensure succinct transition from design to operation.

More info

read more >