LNG Bunkering Will Develop Fast - LR Study

MarineLink.com
Tuesday, April 15, 2014
Frontispiece image courtesy of LR

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering. 22 ports were assessed in the analysis with 18 key questions addressed.

LR explains that this latest analysis builds on the Lloyd’s Register LNG bunkering Infrastructure Study completed in 2011. Shipowner demand, unsurprisingly, remains the biggest driver from the ports’ perspective but availability of LNG infrastructure has risen from being considered a low priority to the second most important driver after demand. Pricing is third. Most ports surveyed are in the North American and European emission Control Areas (ECAs).

Key findings

  • 59% of ports surveyed have specific plans for LNG bunkering infrastructure.
  • Lack of in-port infrastructure will not hamper LNG bunker delivery plans.
  • 76% of the ports believe that LNG bunkering operations will commence at their port within five years.
  • By 2020 key European ports will be able to support deep sea bunkering operations.
  • 73% of ports say that LNG will be supplied by existing onshore LNG terminals.
  • In the short term, ports will rely on third party specialist suppliers to supply gas from terminals to ship – mainly by either truck or bunker barge.
  • In the longer term, 47% of ports will have dedicated LNG storage capability for bunkering. One port is considering the use of floating storage and regasification units (FSRUs).
  • By 2020/2025, ports expect that 13%/24% of bunkers supplied will be LNG.
  • 86% of the ports surveyed indicate that it is either likely (54%) or very likely (32%) that demand for LNG will be from deep sea ships within a 3-10 year time horizon.
  • No significant change in bunker delivery methods is anticipated – for example, if HFO bunkers are being supplied by barge today it is expected that LNG will be delivered by barge in future.
  • There is clear awareness that port and land safety issues need to be harmonised.
  • Economics (32%) and availability (20%) are the two biggest factors in the development of a gas market.
  • The report indicates that societal concerns about LNG as a future fuel are falling.

Latifat Ajala, Lloyd’s Register’s Senior Market Analyst comments, “Global ports are gearing up for a gas fuelled future for shipping. Now we can clearly see that the development of bunkering capability is going to be a vital driver for take up of LNG by deep sea shipping."

Source: Lloyds Register

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