How do we solve shipping’s “chicken-and-egg” dilemma: LNG producers wait for enough ships to run on LNG, while shipping companies wait for producers to increase their supply? The ‘virtuous circle’ of steady growth in LNG shipping in the North Sea/Baltic Sea area can provide an important case study for the rest of the world, according to a reportby the Oxford Institute for Energy Studies. It concludes that LNG will grow as a shipping fuel globally. But ship replacement rates spanning decades and the cost of new infrastructure means there will be no sudden rush.
In December, German shipbuilder Meyer Werft delivered the world’s first cruise ship to be powered solely by LNG…
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