The energy and petrochemical major Shell, recently inked agreements in order to charter ten new crude tankers powered by dual-fuel liquefied natural gas (LNG) engines.
As informed, all 10 vessels will be built in South Korea by DSME, the first operational from 2022 and be on charter to Shell for seven years.
“This significant commitment will see Shell hit a new milestone for our fleet decarbonisation with an average of 50% of our crude tankers on time charter powered by dual-fuel LNG engines once in service. There is real urgency to tackle emissions from this sector and adopting LNG while developing zero-emissions fuels options, will make a significant difference to cumulative emissions.”
….as the company said in its press release.
For the record, four of the very large crude carriers (VLCCs) have been chartered from Advantage Tankers, three from AET and three from International Seaways.
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To remind, LNG is considered as a proven, safe and the lowest carbon emitting fuel currently available to the maritime sector. Vessels using LNG as a fuel are cost competitive over their lifecycle and typically require less maintenance than those running on conventional fuels.
According to Shell, this order is expected to bring the total global dual fuel LNG fleet to 475, marking yet another important step on the predicted doubling of LNG-fuelled vessels on the water by 20231, as ship owners respond to customer calls to choose the cleanest technologies available today.
In addition, the main engines and vessel design chosen for the ships will mean these tankers have the lowest possible methane slip and highest fuel efficiency including on average 20% less fuel consumption compared to eco VLCC vessels on the water.
“The vessels have been designed with state-of-the-art technologies and not only achieve a huge reduction in greenhouse gas emissions but are also economically viable. They have a low fuel consumption with their dual-fuel LNG engines and will bring significant benefits to both the charterer and the ship owners over the long-term.”
…Sung Geun Lee, President and CEO of DSME, said.
Concluding, by 2023, marine LNG demand is expected to reach around 3.6 million tonnes with 45 bunker vessels to be in service.
