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Global energy demand is steadily rising, driven by population growth, improved standards of living, industrial expansion and small business development. At the same time, emphasis on sustainability has become more essential.
As a plentiful resource and the cleanest-burning fossil fuel, natural gas will be a key energy source over the next decades, replacing coal and fuel oil. One of the problems worth solving would be the rise of air pollutants responsible for adverse changes in the natural environment and a significant cause for health problems.
With LNG being the cleaner fuel of choice for large state communities such as the EU, China, India and many other third world developing countries, the demand for such fuel should and will rise exponentially.
A very different problem, that is currently facing the maritime industry, is a lack of crewing companies offering competent maritime professionals that have gone through proper STCW education.
Through careful interviews, from EMSA approved training centers, we are capable of providing the required experience that is also needed to be highly competitive on the market (“Manpower report – The global supply and demand for seafarers in 2015” by BIMCO and ICS).
The report expects a shortage of 92,000 officers in the year 2020 and 147,500 in the year 2025. The demand for officers will be visible mostly in the LNG and LPG sector, which requires even more education and training.
Each year the EU environmental legislation demands from member states that they follow the agenda of lowering emissions to the atmosphere which is only possible by converting to more eco friendly fuel choices. The current technical solution for power plants that use coal or oil as fuel to produce electricity is to economically reconstruct its facilities for LNG burning.
New Emission Standards for shipping that came into force in 2005, and were further revised in later years by IMO, will force ship-owners to convert old engines to a system that will be able to comply with the new emission standards, or build new ships with a system that is already prepared for the upcoming change. Many extant ships in the active fleet are outdated and will have restricted access in emission-controlled areas.
As a consequence, after the year 2020 (SOx, COn, PM cap – IMO) many of the currently operating LNG carriers will require significant investments or be removed and sold for scrap.
Natural gas already accounts for roughly a quarter of global energy demand, of which 9.8% is supplied as LNG.
The global LNG trade has set a new record, reaching 293.1 million tons (MT), marking an increase of 35.2 MT (+12%) from 2016 (the second largest recorded since 2012).
Clean burning nature of LNG means less maintenance and repairs & a lower equipment replacement cost over the years.
Easy to transport
LNG takes up about 1/600th the volume of Natural Gas, thus it is cost efficient to transport over long distances.
Burning natural gas results in 100% reductions in SOx and PM emissions and a cut in NOx escapes of over 90%.
Due to its physical properties and narrow flammability range, LNG is a very safe fuel compared to other fossil fuels.
Average growth rate
“The LNG shipping business is going through an evolution, which is tracking the growth of the commodity and the services around it are becoming commoditized. Natural gas is becoming much more widely appreciated and used; we are in a macro growth trend, it will be one of the main energy sources of the future.”
George Procopiou, Chairman of Dynacom Tanker Management Ltd.