Lloyd’s Register and Korea’s STX Shipbuilding recently signed a cooperation agreement to develop an environmentally-friendly ship powered by LNG. This new ship design would result in a 50% reduction in fuel costs, while at the same time, a 25% reduction in carbon emissions.
Hurdles to overcome include the engineering of the cryogenic storage tanks, the associated high pressure fuel lines, developing the rules needed to classify such a system, and a detailed risk assessment.
Many of the other classification societies are working on similarly ambitious projects to promote carbon-cutting initiatives such as Germanischer Lloyd‘s hull optimization-related FutureShip, and DNV’s LNG-powered Triality VLCC project.
Additional benefits of LNG power: (source: IANGV Emission Report)
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