12 augustus 2010

DNV Students Predict LNG Preferred Fuel

According to DNV’s summer students, LNG could easily become the most feasible means of fuel in short sea shipping. The students made a report that was presented to shipowners, representatives from the supply industry and Norwegian authorities.

Ten master’s students from Norway, Sweden and Nigeria, chosen among 150 applicants, have worked on this year’s summer project assignment – “LNG in short-sea shipping”– for the past six weeks. The scope of the project was to set up a fictitious ship owning company operating ships fuelled on liquefied natural gas (LNG) in the Nordic region. The students, who study technology and economics, have investigated challenges and opportunities of operating vessels on LNG.
 

Safe, Environmentally Friendly and Economically Profitable

The students investigated the preferable trade and ship type for LNG operations, made specifications to ship design and provided a viable fuel logistics solution. They have proven this to be safe, environmentally friendly and economically profitable.
 

Rotterdam Importer

The market analysis conducted by the students showed that four oil tankers of Aframax size shipping crude oil were the most promising options when taking market attractiveness, technical feasibility, economic advantage and environmental impact into account. The most relevant ports within the trade were identified, and Primorsk, Mongstad and Teesport stood out as exporters while Rotterdam stood out as importer. While the major advantages of LNG as fuel are superior environmental performance and a lower price, the weaknesses are the immature LNG market as well as the limited distribution infrastructure. However, the students identified and presented a realistic approach to deal with these weaknesses.
 
Among other things the students suggested that, in order to make LNG available at a competitive price, large volumes of LNG are bought on the global market and then distributed to an onshore storage facility near Rotterdam. Bunkering of other vessels is then provided by a refuelling barge.

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