German first LNG-fuelled ship is under construction

The first completely methane-powered and thereby low-emission ship in Germany will be used to decentrally supply liquid natural gas to energy intensive industries and LNG tank facilities in the North Sea and Baltic Sea as well as to supply the towngas network in Stockholm. With the help of an innovative ship propulsion system installed for the first time in the country, the vessel will power the engine from the boil-off gas from its cargo hold.

“I am pleased that we can participate in realising such a future-oriented project,” said Christian K. Murach, Member of the Management Board of KfW IPEX-Bank at the contract signing. “Here we are developing the environmentally-friendly ‘green’ shipping of the future. This makes not only ecologic, but also economic sense. Moreover, the completion in Rostock will contribute to supporting the shipyards in eastern Germany, in particular in a viable segment that has a long-term, promising future.”

After its delivery at the end of 2012, the ship will operate in Scandinavia and in the Baltic Sea, where in the coming years the emission regulations will be further tightened. Starting in 2015 the emissions in this region may only contain 0.1% sulphur gases, and shipping will then only possible with LNG-powered or emission-reducing filters.

Source: KfW IPEX-Bank