Artista Shipping are leading “Project Forward” – can you tell us a little bit about this project and how the decision to invest in LNG as a fuel came from?
The decision to invest in LNG was made after taking into account that the Total Cost of Ownership of a vessel mainly depends on its resale value. Considering then the impact of environment regulations, and the discontinuity they bring in the evaluation criteria of vessels, we had to seek for a vessel that will remain attractive and competitive in a changing world, and this option we found to be met with LNG as fuel.
The project aims to develop LNG-fuelled ships with long sailing ranges that can be adjusted to suit different owners and trade patterns, which would be revolutionary, can you give away any insights on how this will be achieved?
The key consideration behind this is that even tramp vessels, receive the huge % of bunkers at major ports where LNG infrastructure is currently either planned or envisaged. As a starting point we selected a tank size that would ensure a sailing range of 40 days, which is enough to reach major ports with LNG will be available as fuel in the near future. As bunkering develops the size of the tank can be reduced accordingly.
In terms of LNG consumption, how much LNG do you foresee Arista’s fleet using (annually) once LNG vessels are operational?
The annual demand from each vessel is abt 6100 MT of fuel, equivalent to 235,000 MMBTU of LNG.
What have been the biggest challenges thus far for the project and do you have any advice for companies looking to invest/convert to LNG vessels?
We have faced and overcome several challenges, these being setting of objectives, reluctant yards, lack and time needed for IGF code to mature and adopted, selection of tank type and position, selection of propulsion arrangement, along with several others.
I have a strong belief that shipping has to adjust in a continuously changing environment and seek ways for more sustainable sea transportation (less cost involved) and more social responsibility (less emissions).
The LNG as fuel can serve as the tool for achieving both above goals. The infrastructure is not a problem that can delay the adoption of LNG as fuel, the mindset of people is more important. Of course there is a way to go, but the technology is essentially available, therefore one should not stay inert but instead chase the benefits offered.
Antonis Trakakis, Technical Director, Arista Shipping will be speaking at the 3rd Annual CWC LNG Fuels Summit in Amsterdam 13- 15 June 2017.