LNG

European classification society DNV said there were eight more liquefied natural gas-powered vessels ordered in March 2023 as LNG bunkering fuel prices were much lower than at the turn of the year at just over $820 per tonne.

March 7 (LNGJ) - Orders for alternative fuel vessels such as those powered by LNG picked up in February after a slump from the end of 2022. European classification society DNV said that there were 10 orders placed for LNG-fuelled vessels last month and all of them were containerships.

   However, there were also 22 orders for ships to be powered by methanol. DNV said that so far in 2023 the total order figure for alternative fuel vessels stands at 34. “LNG offers immediate an reduction of greenhouse-gas even when fossil LNG is used,” said Martin Wold, Principal Consultant in DNV’s Maritime Advisory business. “Building a methanol-fuelled vessel is less expensive, but green methanol will be needed sooner than green LNG and there is currently high uncertainty on future availability and prices,” Wold added.

European maritime classification society DNV said that liquefied natural gas-fuelled vessels led the way among the 275 newbuild orders made during 2022.

European classification society and risk management firm DNV GL will combine its current oil and gas, power and renewables businesses into one new division called Energy Systems from February while changing its name to simply DNV from March amid a takeover of a US firm.

DNV GL’s overhaul comes after a strategic review and named its US acquisition as engineering consultancy Energy and Resource Solutions Inc. (ERS), which DNV GL said would increase energy management capabilities.

“Energy Systems, which will start operating from February 01, 2021, will provide certification, advisory and digital monitoring services to the entire energy value chain,” stated DNV GL. The firm's Maritime division deals with most LNG issues.

Ditlev Engel, Chief Executive of the current Energy business area since 2016, will lead the new business division, which will consist of approximately 4 000 “energy experts”, making it the world's leading resource for independent certifications.

DNV GL said its move would better reflect the emerging energy future and the energy mix.

“The creation of Energy Systems is our response to a rapidly changing energy market in search for deeper decarbonization,” said Remi Eriksen, Group President and CEO of DNV GL.

“We want to enable our customers to tackle the energy transition - faster. By combining our expertise, we will better serve customers operating in, and entering the energy market. This new structure will help us serve all players in the energy market,” added Eriksen.

Eriksen also stated that while renewable energy was increasing market share, DNV GL would continue to work with the oil and gas sector as it refocuses on decarbonization.

On its acquisition of US-based consultancy ERS, DNV GL was bring onboard “80 experts” and they will be an integrated part of DNV GL.

“Given the speed of the energy transition, it is natural that we look outside our own organization for acquisition opportunities,” said Eriksen,

“The domain expertise and digital first approach demonstrated by ERS is aligned with our vision and services, and I am sure our customers in North America and beyond will be delighted we have even more experts in our ranks,” stated the Group CEO.

DNV GL still expects natural gas to become the single largest energy source by the middle of the decade, while hydrogen, ammonia and carbon capture and storage will be important tools in the low carbon toolkit.

DNV GL’s Energy Systems CEO Engel said joining forces gives the class society the size to work with the key industry players to help scale green energy technology and optimize safety from production to consumption.

“I see a greater willingness amongst policy makers and companies to speed up the decarbonization of the sector and we at DNV GL are ready to play our part, so we can tackle the needed energy transformation much faster,” said Engel.

DNV GL, the European maritime classification society and risk management company with widespread operations in the LNG sector, said its name would change to DNV from March 2021.

DNV GL, the European maritime classification society, has released its marine fuel forecasts through 2050 with liquefied natural gas being one of the preferred options even over the new hyped fuel of hydrogen because of the estimated price of hydrogen and the high investment costs for the engine and fuel systems.

DNV GL, the leading European classification society, said liquefied natural gas was set to thrive in a strong gas market on the route to energy transition through 2050.

As the adoption of LNG as a ship fuel continues to speed up, European maritime classification society DNV GL plans to commercially launch in April 2020 a new online bunkering platform to take operators from the order process through to delivery.

European classification society DNV GL entered into a joint development project with Chinese Huangpu-Wenchong Shipbuilding Co. for LNG dual-fuel containership.

Kawasaki Heavy Industries of Japan has made more progress with development of a floating, gas-fired power plant to operate with LNG deliveries and aimed at Southeast Asia with its many islands and isolated communities unable to receive pipeline gas supplies.