LNG

The latest US Government short-term energy outlook addressed issued such as high US natural gas inventories and out put as well as low prices and the impact on refined fuel from the forthcoming International Maritime Organization sulfur cap to reduce pollution in ports.

Mitsui OSK Lines, the Japanese shipping company whose operated fleet includes almost 100 LNG carriers, said that in an uncertain political and economic environment in the year ahead, one issue that would have a notable impact on the global shipping industry is the enforcement of new sulfur-oxide emissions regulations in January 2020.

Australian and the Asia-Pacific region shipping companies believe switching to liquefied natural gas is the preferred solution in meeting the International Maritime Organization’s (IMO) stringent new international emissions standards for marine bunker fuels.

April 16 (LNGJ) - The United Nations International Maritime Organization (IMO) based in London has adopted an initial strategy on the reduction of greenhouse-gas emissions by 50 percent from ships by 2050. The measure is in addition to the cap on sulphur-oxide content in fuel from 2020 that will lead to more use of LNG, exhaust-cleaning systems and low-emission fuels. The UK Chamber of Shipping praised the latest IMO agreement to reduce emissions. “Shipping moves 90 percent of global trade and people understand the link between trade and prosperity, but rightly they demand we do it in a sustainable and responsible way,” said the UK shipping industry statement.