Great Number of American Marine Fleets Consider Fueling with LNG

Consistent low-priced natural gas in North America has motivated dozens of marine fleets to consider fueling with LNG. A recent survey by Zeus Development Corporation has identified 42 vessels under development or evaluation.

“LNG in North America is leapfrogging past Europe into the next technological generation,” noted Zeus Development Corporation LNG fuel analyst Siyu Chen. “Though the first project (Harvey Gulf’s offshore service vessel, the Harvey Energy) has only recently been completed, American fleets are already ordering more, larger vessels than almost anywhere else.”

The 42 projects include a broad range of applications, including ferries (17), tankers and bulk carriers (12), offshore service vessels (6), container vessels (6) and an articulated tug barge. Most plans call for purchasing new ships designed from the beginning to fuel with LNG rather than converting diesel or bunker-fueled vessels to LNG. However, twelve projects aim to convert existing vessels.

This year at the fourth annual World LNG Fuels conference, Jan. 21 to 23, attendees will have an opportunity to hear more about this market from industry leaders in North America and abroad. With over 70 presenters, including 24 fleet operators, World LNG Fuels 2014 is the LNG fuel industry’s leading annual gathering.

Zeus Development Corporation, January 8, 2014; Image: Harvey Gulf