DNV GL: Tank Capacity Shows Potential Growth In LNG For Large Vessels

AFI head Martin Wold suggested that the rapid growth in installed LNG tank capacity could mark the start of a new era in ship fuel
DNV GL: Tank Capacity Shows Potential Growth In LNG For Large Vessels

At DNV GL’s Nor-Shipping press flash, Martin Wold, head of the Alternative Fuels Insight (AFI) platform at DNV GL – Maritime, presented the latest AFI figures. After analyzing the data, Wold said that there would be the exponential growth in installed LNG tank capacity pointed to a potential hike in LNG for larger vessels over the coming years.

AFI head Martin Wold suggested that the rapid growth in installed LNG tank capacity could mark the start of a new era in ship fuel. “There are now 163 LNG-fuelled ships in operation and a further 155 ships on order,” he said. “Order intake for LNG-fuelled vessels has remained steady for several years now at around 40 ships per year. However, in 2019 we have already passed 40 new orders in the first five months, which could be a sign that the pace for LNG fuel investments is picking up.”

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