Daewoo develops new LNG-fuelled propulsion system for tanker fleets
Considering that potential energy consumption of ocean-going vessels is twice as much as current world LNG production, the long-term potential of LNG demand by LNG-fuelled ships is immense.
The LNG fuelled propulsion (LFP) system has distinct advantages in the reduction of carbon dioxide (CO2) and sulfuric oxide (SOx), which would be important especially in the emission control areas (ECAs).
The capital cost of the LFP system may be recovered within three to 10 years depending on the applied LNG price, and the LFP system may bring substantial fuel-cost savings over time.
Dual need
Relatively low LNG prices compared with traditional fuel oil and more stringent environmental requirements have motivated the developers of gas-fuelled propulsion systems for commercial vessels.
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