The shipping industry burns between 200 million and 250 million metric tons a year of heavy fuel oil, according to the England-based International Bunker Industry Association. Therefore, ship owners are already acting to cut emissions and also to reduce fuel costs, as a ton of LNG in the UK costs about $400, compared with $495.12 of oil.
Eskola also detailed that, currently, there are about 100 vessels running on LNG, including offshore service ships, passenger ferries and tankers that haul the fuel.
It is worth adding that Waertsilae Oyj, manufacturer of natural gas engines, biopower solutions and complete propulsion systems, powers Royal Caribbean Cruises Ltd.’s Allure of the Seas, the world’s biggest cruise ship. Furthermore, the Finish company is developing the world’s first oil-products tanker that will consume the liquid gas and is also working with Seoul-based Samsung Heavy Industries Co. to design one of the biggest classes of merchant ship so it can run on LNG.