High natural gas prices spur demand for dual-fuel tankers: Executive
SINGAPORE (Reuters) – Even as liquefied natural gas (LNG) is seen as a key transitionary fuel for bunkering, soaring prices of the super-chilled fuel have led to higher demand for ships with dual-fuel tankers, said an industry executive.
The global shipping industry is seeking to reduce its reliance on oil as it tries to meet carbon emission reduction targets set out by the U.N.’s International Maritime Organization. These include cutting carbon emissions by 40% from 2008 levels by 2030, and overall greenhouse gas emissions by 50% by 2050.
“We believe that LNG will be one of the major fuels for bunkering. (But) at prices of $35-$40 per million British thermal units (mmBtu),
