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SAFETY4SEA

LNG competitive for Pure Car and Truck Carriers, study finds

by The Editorial Team
July 11, 2019
in Fuels
lng

Credit: Sea/LNG

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SEA\LNG released a study presenting that LNG as a marine fuel is able to deliver the best return on investment. The report says that the fuel is a competitive option for newbuild Pure Car and Truck Carriers (PCTC) on Pacific and Atlantic trade lanes.

The study analyzed two PCTC trading scenarios using a 6,500 Car Equivalent Unit (CEU) vessel on the Atlantic Trade and an 8,000 CEU vessel on the Pacific Trade. It found that LNG as a marine fuel can deliver the best return on investment on a net present value (NPV) basis over a conservative 10-year horizon, as well as fast payback periods varying from one to three years on the Atlantic Trade and from less-than-one year to two years on the Pacific Trade.

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These two routes were selected according to a trading scale, with around 3.2M vehicles shipped on the Pacific Trade and 1.7M on the Atlantic Trade every year. LNG was proven to be the best investment across both trading zones. This higher investment return was achieved without taking into consideration the important additional benefits and branding value gained by selecting LNG as a more environmentally friendly marine fuel. When corporate sustainability and environmental goals were considered, including possible charges on CO2 production, LNG as a marine fuel brings further benefits.

lng cost
Credit: Sea/LNG

The study also provided better clarity for those investing in LNG and highlights seven key findings:

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  • LNG has a better return on investment;
  • The CAPEX hurdle is diminishing;
  • It delivers competitive energy costs;
  • Has higher environmental performance;
  • Is the most financially effective long-term method for complying with the 2020 sulphur cap;
  • Scrubber operation is significantly more expensive than widely reported;
  • The cost of LNG is stable.

In addition, the financial results are more compelling given that this higher traditional investment return was made by choosing LNG, the only commercially viable marine fuel alternative available at scale today which is successfully able to achieve corporate sustainability and environmental goals.

lng cost 6,5000 ceu
Credit: Sea/LNG

Moreover, to ensure the best possible data was available to Opsiana, SEA\LNG members contributed their maritime expertise and corporate information and data from across the LNG value chain, to guarantee a high level of creditability in the study and results. All cost data was precise, according to the latest estimations from industry experts, derived from their experiences in operation.

Peter Keller, Chairman, SEA\LNG, stated, commented:

LNG is a safe, mature, commercially viable marine fuel offering superior local emissions performance, significant Greenhouse Gas (GHG) reduction benefits, and a potential pathway to a zero-emissions shipping industry. SEA\LNG will continue to provide factual, independently verified information that objectively supports owners and operators in decision-making for 2020 and beyond

Explore more in the PDF herebelow

Tags: reportsSEA LNG

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