Poll: LNG for now, hydrogen for the future
27 Nov 2019by Craig Jallal
In a series of polls at Riviera’s Tanker Shipping & Trade Conference, tanker owners and operators tackled questions regarding alternative fuels and how to deal with legislation looming on the horizon
On the first day of the Tanker Shipping & Trade Conference, delegates were asked the following questions:
- On a scale of 1 to 10 (1 being pessimistic and 10 being optimistic), to what extent do you agree that the technology is available to allow shipping to decarbonise?
With an average score of 4.7, the result suggested delegates were not feeling positive about the ability of available technologies to decarbonise the industry.
- Which of a range of alternative fuels is the most attractive?
To this, 53% of respondents replied that LNG was the most attractive alternative fuel, with methanol second with 21% of the votes.
- A similar question asked: which alternative fuel is best in terms of forthcoming regulations and compliance?
Here, 40% of the respondents chose hydrogen fuel, with LNG coming second with 23% of the votes.
- To gauge tanker owners’ and operators’ expectations of IMO 2020, delegates were asked: will tanker rates rise post-IMO 2020?
An overwhelming 78% agreed that tanker rates will increase due to IMO 2020, while only 7% disagreed. The remainder (15%) thought rates will remain the same.
- After a morning session where attendees heard analysis and opinions on the supply/demand balance across various sectors of the tanker shipping industry, delegates were asked: is expanding the fleet a priority for my company in the next 12 months?
At more than half, 60% agreed that their respective companies were looking to grow their fleets.