Coalition predicts investment boom in LNG as marine fuel

Coalition predicts investment boom in LNG as marine fuel

Following the decision by the International Maritime Organization to approve the implementation of the 0.5 percent cap on the sulphur content of marine fuel in 2020, SEA\LNG coalition expects a rise of investment across the shipping value chain. 

The coalition said in its statement on Tuesday that the certainty of the regulatory regime for the future is important for the maritime industry.

Coalition’s chairman Peter Keller said that the approval by IMO’s Marine Environment Protection Committee provides an “impetus to resolve the structural and commercial obstacles hindering the widespread adoption of LNG as marine fuel.”

He noted that the coalition expects “increased and significant” investments across the shipping value chain resulting from the IMO’s decision.

In addition, he reminded of the coalition’s previous statement that the LNG sector is well prepared to meet the future emissions requirements of the global shipping industry.

Members of the coalition, launched in July, include Carnival Corporation, DNV GL, Eagle LNG Partners, Engie, GE, GTT, Keppel Offshore & Marine, Lloyd’s Register, Mitsubishi Corporation, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE and Wärtsilä.

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