Going green in the maritime industry : a perspective from LNG as marine fuel

• Main Author: Yuan, Yuan
• Other Authors: Kenneth Tan
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Engineering::Maritime studies::Maritime management and business
• Online Access: http://hdl.handle.net/10356/64114
• Institution: Nanyang Technological University

This paper discusses the viability of LNG as a future marine fuel from the environmental perspective. The objective of this paper is to present a balanced and updated analysis on the trend of LNG bunkering through research on academic papers and industry news. By conducting a thorough review on the current literature, it was found that most academic papers have considered LNG as a cargo instead of a marine fuel. Only in the last half-decade has more focus been on the possibility of LNG-fuelled vessels in light of worsening environmental effects and stricter regulations. In addition, this paper seeks to garner a more updated view through market research to reflect the dynamic nature of the bunker industry. The team conducted interviews with representatives from all sectors of the bunker industry: government authority, terminal owner, shipowners, classification society, natural gas suppliers and bunker suppliers. This was aimed at forming a well-rounded picture of the current trends and opinions of all stakeholders without being subject to bias from any one party. In addition to interviews, surveys were also carried out to obtain primary data. Through the process of data collection and consolidation, the benefits of LNG bunker were extolled with an emphasis on environmental sustainability. However, cost benefits of using LNG fuel are also a significant encouragement for shipowners to convert from conventional bunker fuels. There is an acknowledgement that the adoption of LNG as a global bunker fuel still requires cooperation between various stakeholders to overcome numerous issues. This is seen as a minor obstacle rather than a long-term hindrance due to the current trend towards tightening regulations which will incentivize all stakeholders to work towards an LNG-fuelled future in shipping.