Modernization of Newport for a Green Future with Class Green Light for LNG Concept
An innovative liquefied natural gas (LNG) tank system developed by Newport Shipping for oil tankers and bulk carriers has obtained key preliminary class approval to facilitate the modernization of these vessels in accordance with new environmental requirements aimed at reducing marine emissions.
The approval in principle (AIP) of the classification society DNV affirms the technical feasibility of the concept for the classes of vessels VLCC and Capesize, and paves the way for its implementation in the design work on refurbishments by ship repair and renovation group.
This marks an important milestone for Newport Shipping, positioning it to play a leading role in the burgeoning market for adapting ship fuel systems for LNG which has seen only a few such renovations around the world to this day.
“LNG is one of the cleanest transitional fuels currently available in the world and can be used with minimal modifications on a ship,” said Lianghui Xia, managing director of Newport Shipping. “CO2 emissions can be reduced by 20-30% simply by switching to LNG without installing any other equipment. ”
Besides the environmental gains, there are also significant financial benefits, as LNG is much cheaper than most fuels and there is already a global bunkering network offering this fuel at competitive prices, he pointed out.
The concept of Newport Shipping is based on deck mounted LNG tanks that can be installed without major modifications to the ship’s hull, thus reducing installation costs, as part of a retrofit solution using a dual fuel engine. which would also be suitable for future carbon use. -neutral methane such as bio-LNG.
The tank capacity, which is based on a typical vessel profile and route of operation, is sufficient for a single trip prior to refueling.
Converting the existing global merchant fleet of around 100,000 vessels to use alternative fuels is no longer an option, but an economic necessity for shipowners, as reducing emissions will be a rite of passage for commerce in the world. a low carbon maritime future.
The IMO has set itself the target of halving greenhouse gas emissions from international shipping by nearly one billion tonnes per year and reducing carbon intensity to 70% above levels. from 2008, by 2050.
In addition, the new Energy Efficiency Index for Existing Ships (EEXI) will require all existing cargo ships to meet more stringent emission class limits for annual surveys carried out from January 1, 2023.
In addition to global and regional regulations, there is increasing market pressure from charterers and banks to make decarbonization a condition of freight contracts and vessel financing.
Xia believes that Newport Shipping’s concept offers “a practical and cost-effective solution” to reducing fleet emissions in the short term pending the adoption of carbon-neutral emissions technologies.
fuels such as ammonia and hydrogen, as well as battery technology, which are still far from commercial realization.
He adds that a long-term payment plan over 5 to 7 years on 60% of the total cost is offered to customers for his LNG retrofit solution.
Newport Shipping, with a global network of 15 partner yards spanning international trade routes in the Atlantic and Pacific regions that offers guaranteed dry dock slots and fast turnaround times, is now ready to provide this solution to modernization of LNG on the global maritime transport market.
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