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BW LPG announces world's first retrofits of LPG dual-fuel engines

Shipper says it will be 'buffered from price sensitivity to post-2020 fuel price scenarios'.



The 2014-built BW Aires is a 84,196-dwt VLGC fully owned by BW LPG. Image credit: BW LPG


Updated on 30 Aug 2018 12:48 GMT

BW LPG confirmed on Thursday that it has signed contracts, including future options, for the delivery and retrofitting of four LPG-powered, dual-fuel engines in its fleet, in the world's first project of its kind.

BW LPG expects the first retrofitting to take place in conjunction with scheduled drydockings starting in 2020.

The Singapore-headquartered firm says LPG as a marine fuel will offer efficiency gains on many fronts, with output efficiencies expected to improve by around 11 percent compared with compliant fuels - resulting in "significant improvements" in overall voyage fuel economics.

Other efficiencies gained with LPG, according to BW LPG, are easy storage, faster refuelling and wide availability of bunkering ships and facilities.

"All these ensure that LPG is a long-term sustainable marine fuel," the owner-operator noted.

Furthermore, BW LPG was keen to stress that, in addition to savings from lower fuel consumption, "we are buffered from price sensitivity to post-2020 fuel price scenarios with full dual-fuel flexibility".

"Even at today's pricing, LPG is advantageous vs heavy fuel oil, offering high life-time saving prospects," the shipping firm emphasized.

Martin Ackermann, BW LPG CEO, remarked: "BW LPG has been preparing for IMO 2020 for years and today, I am pleased to announce that we have signed contracts for the delivery and retrofitting of four LPG-propelled, dual-fuel engines. We will be the global pioneer in operating next-generation, high-tech, green ships with dual-fuel propulsion.

"Responsible operations and profitability are not conflicting goals - rather, they are preconditions for each other. This retrofitting is just one way in which we ensure that our shareholders invest in a forward-looking company that positions itself well for future challenges."

BW LPG added: "LPG propulsion means that engines are cleaner, cheaper to maintain and provide higher efficiency. Dual-fuel engines [provide] fuel flexibility, which means full redundancy to ensure uninterrupted operations.

"Conversion to LPG propelled dual-fuel engines is a life-cycle upgrade and long-term commitment."






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