World News
SpaceTech4Sea Project Hopes Carbon Fibre Fuel Tanks Will Boost Uptake of LNG Bunkers
A project to develop a new carbon fibre fuel tank is hoping the concept could help the uptake of LNG bunkers, particularly for short sea shipping.
ABS, OceanFinance and Cimarron Composites have come together as part of the SpaceTech4Sea project that hopes to use aerospace technology for marine LNG applications. It has been backed by €1m ($1.09m) funding from the European Union.
“The potential of this technology to reduce barriers to the utilization of LNG as fuel for short sea shipping is significant. This composite technology has proven itself in other industries; we are committed to learning how to safely apply those lessons to benefit the maritime industries,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.
The project has now reached a milestone with ABS granting Approval in Principle (AIP) to the conceptual design of carbon fiber LNG Fuel Tanks.
Attica Group is one of the shipowners evaluating the technology for future projects.
“The AIP of the ultralight composite tanks for marine use constitutes a major factor in the design and increases the potential of using them both in retrofits and in new buildings of weight sensitive LNG-fueled vessels,” said Costis Stamboulelis, Executive Management Advisor, Newbuildings & Development, Attica Group.
While the tanks are currently made by hand, the project aims to adopt an automated production line to ensure a competitive pricing level.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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