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SEA-LNG: its fuel brings profit via early decarbonisation

SEA-LNG, the liquid natural gas lobby promoting its use as a marine fuel, claims its new analysis demonstrates how ships benefit for up to eight years of emissions compliance for preferable asset financing versus using high sulphur fuel oil (HSFO), very low sulphur fuel oil (VLSFO), and marine gasoil (MGO)

05 November 2020 - 19:00

SEA-LNG, the liquid natural gas lobby promoting its use as a marine fuel, claims its new analysis demonstrates how ships benefit for up to eight years of emissions compliance for preferable asset financing versus using high sulphur fuel oil (HSFO), very low sulphur fuel oil (VLSFO), and marine gasoil (MGO).

'LNG fuel delivers up to 28 per cent lower CO2 profile from tank to wake, which makes LNG vessels favourable to the Poseidon Principles' funding criteria, which were instituted by the founding financial institutions to improve strategic decision making and to shape a better future for the shipping industry and society,' said the SEA-LNG press release.



The Poseidon Principles measure progress towards these objectives using Average Efficiency Ratio (AER) scoring. This follows an ever-tightening decarbonisation trajectory index to 2050, requiring a vessel's aggregate carbon emissions intensity to improve.



'LNG-fuelled vessels, with their lower CO2 profiles, comply with this trajectory far longer, and 'fall out' of favour many years later than conventionally fuelled vessels,' said the lobby.



'SEA-LNG's analysis found that LNG fuel can extend the emissions compliance runway for five to eight more years for owners across all market scenarios; weak (requiring slow steaming), normal, and strong (requiring elevated speeds).



'This 'extended compliance runway' provides LNG-fuelled ship owners with strong competitive advantages, including the precious time to extend compliance through the use of fuel options that reduce emissions further, such as bio-LNG or liquefied synthetic methane (LSM) - both of which are interchangeable with LNG,' said the group.



Said the group's investment chairman John Hatley: 'The combination of these factors makes LNG the clear compelling choice for long-term emissions compliance,' it said.


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