BW LPG has committed an additional three VLGCs for LPG dual fuel retrofitting, bringing its total commitment to 15 vessels at a cost of $130m.
The decision follows the company recently completed the retrofitting of the world’s first LPG dual fuel VLGC BW Gemini.
“We are taking the lead and advancing technology that will allow us to decarbonize and maximize the value of an asset with a 20-year lifespan as we prepare for a zero-carbon solution,” said Anders Onarheim, CEO of BW LPG.
“Building new ships can provide the benefits of operating with LPG but comes at a heavy cost. Counting total emissions, a new ship represents about 70,000 tons of carbon dioxide in the materials and building process. Compared to 2,000 tons of carbon dioxide for retrofitting, the sustainability outcome is much better from retrofitting than from building new vessels,” Onarheim added.