The milestone of 100 confirmed LNG projects worldwide has been recently passed and it is true that we are seeing many more developments in LNG ship fuel industry. Currently, there are three key stakeholders regulating the future development of LNG; charterers, LNG suppliers and shipowners, each and one of them having their own objectives and challenges moving ahead.     Until now, there were two players dominating the discussions around the future of the LNG industry; LNG suppliers and shipowners facing the well-known ''chicken- egg problem''. On the one hand, shipowners are talking about not enough supply in order to justify the investments for LNG fuelled ships and on the other hand, suppliers claim that there are not enough LNG fuelled vessels in order to justify the investment in bunkering facilities. But now, a third player has entered the picture and this is the charterer who is the one gaining the benefit of lower fuel cost whereas the shipowners are the price and risk takers. The solution to this challenge is charters to reward dual fuel vessels and share the profit or shipowners to take on the fuel cost. These three parties need to work and cooperate smoothly in order...

S4S: What was the biggest Safety & Environmental protection improvement over the last 10 years? How did it change the industry? M.F: As a classification society, we had big improvements and important steps in rules and regulatory developments. Certainly, the balance between safety and environment became much more important than before.  We had actually an important step in the approval of the Common Structural Rules which were approved by the IACS last December. Also, we have important works going on in the safety over the container ships and a lot of issues going on in environmental parts with several regulations coming up and lot of work done by the various class societies individually and also IACS for implementation of these regulations.   S4S: Do you realize the growing momentum for investing in eco -ships? What are the relevant services and offerings you may provide? M.F: Eco- ship has been a new venture in ship building and in the order book of new buildings. Surely the market has changed, the market is very different than what used to be just a few years back and there are a lot of things that the class society is doing in this aspect. Honestly,...