Economic group hires classification society to study natural gas applications for vessels.
The Asia-Pacific Economic Cooperation secretariat has awarded a contract to Korean Register to develop construction, operation and maintenance standards for vessels powered by liquefied natural gas, the classification society said Thursday.
Ocean carriers increasingly are studying the feasibility of deploying LNG-fueled ships because it is relatively cheap compared to heavy bunker oil and cleaner to burn. Fuel is now about 60 percent of the cost of operating containerships, and bunker fuel earlier this year, before the recent fall in global oil prices, averaged about $650 a metric ton. A medium-sized container ship today can easily consume 100 tons or more of bunker fuel per day, which would put daily fuel costs in excess of $65,000.
Natural gas produces about 25-percent less greenhouse gas and fewer harmful pollutants than distillate fuels. Shipping companies that extensively operate in certain coastal waters are especially interested in LNG’s potential as a fuel substitute because new emission control regulations there require the use of ultra-low sulfur fuel — which is extremely expensive and in limited supply — or emission filtration systems.
The Korean Register said it will conduct research on how to apply LNG technologies to vessels, ship safety, maritime trade statistics and best practices. Results will be shared with APEC member nations.
The study is expected to be completed by the end of next year.
APEC pushes for LNG adoption in maritime industry
