BW LPG has announced that it has exercised an option for the delivery of four additional LPG dual-fuel engines. With this, BW LPG has committed to retrofit eight vessels with the propulsion technology.
This announcement follows the decision by BW LPG in August 2018 to retrofit four of its ships – a world’s first at the time.
BW LPG, together with class society DNV GL, Wärtsilä Gas Solutions and MAN ES, has since subjected the prototype to rigorous tests.
“When retrofitting is complete, BW LPG will reap benefits across many fronts such as fuel cost and voyage efficiencies. Most importantly, this represents a significant step forward in our efforts at reducing air emissions,” the company stated today.
Anders Onarheim, BW LPG CEO, commented: “As the world’s largest owner and operator of VLGCs, BW LPG leverages on our scale and deep expertise in maritime shipping to invest in R&D and implement pioneering technology onboard that will push our industry towards decarbonisation – technology that can be implemented on at least 50% of the current global VLGC fleet without the need for dedicated newbuilding orders. This is our commitment to sustainable development, which we pursue while keeping our focus on safe and reliable operations, so that we can continue to provide industry-leading customer service and generate better returns for our shareholders.”
A joint study by DNV GL and MAN published two months ago evaluated that LPG as a ship fuel is at least as attractive an energy source as LNG, with shorter payback periods, lower investment costs and lower sensitivity to fuel price scenarios. Furthermore, there is considerable LPG infrastructure available around the world, including storage facilities, export terminals and coastal refineries with loading and unloading installations.