LNG adoption in the containerized market remains strong, due to the attractiveness of the fuel price but also to slower than expected production of green methanol.
Shipbrokers told “Naftemporiki” that the Greek shipowners’ plans include the construction of large dual-fuel container ships of 16,000 TEUs with the possibility of using LNG and delivery in 2027.
The use of this specific fuel is already leading the way in new container ship orders at shipyards in China and Korea.
The fact that the International Maritime Organization (IMO) has not yet adopted a measure that would underpin the sector’s transition to “net zero” by 2050, as well as the implementation of “EU fuel” in European ports in 2025 and the start of the EU Emissions Trading Scheme (ETS) in 2024, which increases the operating costs of ships, show that the use of LNG is currently the most optimal option.
It should be noted that the use of LNG can reduce greenhouse gas emissions by up to 23% with modern engine technology.
Furthermore, the use of this fuel reduces the Energy Efficiency Design Index (EEDI) by 20% (calculates grams of CO2 per transport project (g CO2 per ton-mile), but by the same percentage the carbon intensity index, which is a global environmental indicator to measure).
Newly built vessels
Greek shipowners have been particularly active in taking on new orders lately.
According to shipping company Xclusiv, 14 dual-fuel container ships running on LNG have already been ordered by Greek interests CapitalExecutive Ship Management Corp, partners Navios Maritime and Euroseas Ltd.
Greek shipowners have placed orders for a total of 18 container ships this year.
Capital-Executive Ship Management Corp. recently took delivery of four new 2,862 TEU container vessels from HD Hyundai Mipo Shipyard. These are C/V “Acastos”, C/V “Adonis”, C/V “Anaxágoras” and C/V “Acheloos”.
The ships have, with some modifications, alternative system technology for obtaining electrical energy from the port (AMP ready) and the possibility of installing an exhaust gas cleaning system (scrubber), in addition to the possibility of using liquefied natural gas (LNG) as fuel.
Shipbuilding sources also reported that Greek shipping company Euroseas has also signed a letter of intent with a Chinese shipyard for up to four 4,300 TEU dual-fuel LNG container ships.
Some sources identify Yangzijiang Shipbuilding as the potential partner. Although the deal has not yet been finalized, negotiations are progressing well. The company has a fleet of 23 container ships, including 16 feeder container ships and 7 intermediate container ships.
Additionally, Navios Maritime Partners was among those that secured contracts for new dual-fuel LNG container vessels.
