LNG-powered Ship Market Expanding with Scrubber Ban

LNG fueled ships were unavoidable already many years ago. The marine industry just thought they can sit this one out and trusted that rules would be softened at the last hour or that enforcement would be lax. They were wrong. Now, for any newbuild, I think one takes an incalculable risk if it’s not LNG fuelled. So order books will swell. The very old vessels that have been in service for decades will be retired and do the remainder of their time on MGO or just serve routes whee they never come into contact with the territorial waters of a country with a strict reading. Leaves out those vessels that are in service 15 years or less. Retrofitting to LNG makes the ship a Frankenstein and costs dearly. So, the only way they have to go is by using cleaner distillates. And high distillate prices will only accelerate the drive towards LNG.

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