LNG-propelled vessels are likely to emerge in large-sized commercial ship segment due to global environment regulation reinforcing gradually and ECA range expanding.
Analyst Park Mu-Hyun at E*Trade Securities of Korea has said, “By 2015 or before 2020 at the latest, there is a high possibility for large vessels to be changed to LNG-propelled ones to avoid regulations getting stronger.”
He said that the regulation’s scope of ECA (Emission Control Area) is expanding to countries and regions across the world and the degree of regulation is getting reinforced by stages, “Vessel replacement will continue even if oil price falls,” he stressed.
Analyst Park explained that the most suitable alternative could be LNG-propelled vessel to satisfy the sulphur oxide (SOx) regulation after 2020. Also, he said the vessel would hold a dominant position in terms of a reduction in fuel cost against diesel engine and avoidance of environment regulation.
LNG-propelled vessels boast a 80% decrease in nitrogen oxide (NOx) emission against heavy fuel oil (HFO) with a 100% drop in SOx as well as 29% drop in CO2 emission.