ABS will provide an in-depth engineering and economic analysis to assess the costs and benefits for Dorian LPG's fleet of very large gas carriers of using LPG to meet the new global emissions standards.
If the economic viability of LPG as a bunker fuel is established, Dorian believes that it could represent a significantly more attractive and cost effective alternative to the current methods available to comply with the coming emissions regime for environmental control areas.
ABS will consider the environmental, operational and financial impact of LPG as a marine fuel and deliver its findings in the coming months.
Dorian LPG says that, as part of its newbuilding program, it has already made some changes to its VLGC design to allow it to have the option to use LPG as a fuel in the future.
Dorian says LPG as a fuel source has a significant advantage, given the over 1,000 ports around the world that already have LPG storage facilities.
"We believe that the relevant technologies are sufficiently advanced to allow a meaningful analysis of this environmentally friendly and cost effective fuel," said John Hadjipateras, Chairman and CEO of Dorian LPG. :If the study proves the commercial viability of LPG for marine fuel use, the company will be at the forefront of this innovation. Our customers and shareholders will be well positioned to reap the long-term benefits."
ABS says it will help evaluate the various fleet compliance options, including, in addition to LPG as a marine fuel, installation of scrubbers and use of low-sulfur fuels.
Before options are considered, ABS will perform a comprehensive LPG as Fuel technical evaluation in order to define the most advantageous options to serve the needs of the specified vessel design. The evaluation will consider the applicable regulations, the design capabilities and limitations, the installation and safety requirements, the operating features and equipment restrictions.
"It is important for owners and operators to assess their fleets and evaluate their options so that they can develop the most efficient compliance strategies as new requirements come into place," says ABS Chairman, President and CEO Christopher J. Wiernicki. "The Dorian LPG fleet of VLGCs provides an opportunity to investigate new fuels, such as LPG, among other conventional options, and we are excited to work closely with them as they develop strategies that meet their unique fleet profile."