The LNG adoption in the containership market remains strong, due to the attractiveness of the fuel price but also slower than expected production of green methanol.
Shipbrokers noted to “Naftemporiki” that the plans of the Greek shipowners include the construction of large 16,000 TEUs dual-fuel container ships with the possibility of using LNG and delivery in 2027.
The use of this particular fuel is already leading the way in new orders for container ships at shipyards in China and Korea.
The fact that the International Maritime Organization (IMO) has not yet proceeded with the adoption of a measure on which the transition of the sector to “net zero” by 2050 will be based, as well as the implementation of “fuel EU” in European ports in 2025 and the start of the EU Emissions Trading System (ETS) in 2024, which increases the operating costs of ships, show that the use of LNG is currently the most ideal option.
It is noted that the use of LNG can reduce greenhouse gas emissions by up to 23% with modern engine technology.
Also, the use of this fuel reduces by 20% the Energy Efficiency Design Index (EEDI) [calculates grams of CO2 per transport project (g CO2 per tonne-mile) but by the same percentage the carbon intensity index, which is a global environmental measure].
Newly built vessels
Greek shipowners have been particularly active in placing new orders lately.
According to shipping company Xclusiv, 14 dual-fuel containerships using LNG have already been ordered by Greek interests CapitalExecutive Ship Management Corp, Navios Maritime partners and Euroseas Ltd.
Greek shipowners have placed total orders for 18 container ships this year.
Capital-Executive Ship Management Corp. has recently received four new 2,862 TEU container vessels from HD Hyundai Mipo Dockyard. These are C/V “Acastos”, C/V “Adonis”, C/V “Anaxagoras” and C/V “Acheloos.”
The ships have, with some modifications, technology of an alternative system for obtaining electrical power from the port (AMP ready) and the possibility of installing an exhaust gas cleaning system (scrubber), while they also have the possibility of utilizing liquefied natural gas (LNG) as fuel.
Shipbuilding sources also reported that the Greek shipping company Euroseas has also signed a letter of intent with a Chinese shipyard for up to four 4,300 TEU dual-fuel LNG container ships.
Some sources identify Yangzijiang Shipbuilding as the potential partner. Although the deal is yet to be finalized, negotiations are said to be progressing well. The company has a fleet of 23 containerships, including 16 Feeder containerships and 7 Intermediate containerships.
Also, Navios Maritime Partners was among those who secured contracts for LNG dual-fuel newbuild containerships.
