World News
Project Results Released for Bunker-Saving LPG-Fuelled Carrier Concept Design
DNV GL Wednesday announced that, along with project partners Consolidated Marine Management Inc. (CMM), Hyundai Heavy Industries Co., Ltd. (HHI), Wärtsilä Oil & Gas Systems AS (Wärtsilä), it has presented the results of a joint industry project (JIP) to develop a bunker-saving liquefied petroleum gas (LPG)-fueled carrier design, known as LPGreen.
As Ship & Bunker has previously reported, the project partners set out to consider current and future trading patterns in its efforts to develop a more energy efficient, environmentally friendly, and safer LPG carrier vessel that still ensures overall competitiveness.
"In order to increase the competitiveness of modern LPG carriers, novel ship designs need to simultaneously account for the market and trade route characteristics; excellent safety and ease of operation; cargo and fuel flexibility; and, overall energy efficiency combined with economic viability," said Nikolaos Kakalis, DNV GL's Manager for R&D and Advisory Services in South East Europe and Middle East.
"Therefore, a holistic approach to the design of modern LPG carriers is required, taking into advantage market insight, technology innovation, advanced computer tools and industry-wide collaboration with strong partnerships."
The JIP is said to have resulted in a concept design that provides "state of the art" performance that delivers an overall improvement of 6 to 9 percent in energy efficiency compared to a reference vessel, depending on machinery configuration and fuel used.
"Perhaps most importantly, LPGreen has demonstrated the technical feasibility of a LPG fueled propulsion concept, which, depending on fuel prices and the development of a commercial and chartering framework, could result in a cut of up to 30 percent in fuel expenses," said George Dimopoulos, Principal Specialist in DNV GL and project manager for LPGreen.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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