LNG as a marine fuel can no longer be described as a Nordic curiosity. It is now firmly in the frame as a serious fuel of choice in trucks, mining and off-road, railroads and marine. Both the USA and Canada are establishing “green” corridors based along the most popular trucking roots.
“Henry Hub” gas prices have been low, placing domestically produced LNG around $12-15/MMBtu. With diesel prices at around $2530/MMBtu, the choice for efficient operations is clear. Ship operators are beginning to “see the light”.
The introduction of the North American Emissions Control Area (ECA) in August 2012 was a watershed. 2013 saw a surge of intentions, conversions and new building orders for vessels operating in North American ECA waters. This has brought a minor and welcome resurgence in USA shipbuilding. Europe is also making steady progress and we now expect to see the pattern followed globally.
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