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The number of LNG-fuelled vessels in operation by 2020 is likely to be around 600, down from the 1.000 originally forecast by classification society DVN GL, said its business development LNG-advisor for small-scale LNG and LNG-infrastructure, Jan Tellkamp, speaking at the Gas Fuelled Ships event in Hamburg beginning of November.

Jan Tellkamp   -   Gerd Wursig

Business director, Gerd Wursig, said there were currently 73 vessels running on LNG with a further 80 on order. He pointed out that there were now more LNG-fuelled ships on order than there were newbuildings with emission scrubbers. “At the end, it is all a matter of pricing,” said Wursig. He explained that gas prices were currently similar to those of heavy fuel oil (HFO) but, because of distribution costs, this made gas fuelling a little more expensive. However, in the longer term he forecasted the death of HFO.

Source: Tradewinds LNG, 13/11/15