The upcoming 0.5% cap on the sulphur content of fuels burned by ships – imposed by the International Maritime Organisation (IMO), it will be in effect from 1 January 2020 – continues to spark debate over what strategy shipowners will adopt to be compliant with the new rules, as well as whether LNG has a real chance to establish itself as the fuel of choice.
The variables are many, including the economics of ultra-low sulphur fuel oil against LNG, the installation of scrubbers, the availability of fuel at a wide range of ports and the ageing global fleet. But there also is a psychological side to it that may play a role in what has been described by many as a “chicken and egg” situation in LNG bunkering.
In response to that, and with a view to promoting the adoption of LNG as a bunker fuel on a global scale, newly established Greece-based company Probunkers has launched a USD 343 million project with the aim of becoming the first global supplier of LNG bunkering services.
Probunkers’ plan is to design, build and operate a fleet of vessels that will initially service the top seven trade ports and bunkering hubs that include Singapore, Houston, Amsterdam, Rotterdam and Antwerp. The company will have a three-tier role, as physical supplier, LNG trader/seller and barge owner and operator.
In this interview, Probunkers’ CEO Alexander Prokopakis explains to LNG Business Review why LNG is the best option for the shipping industry post-2020 and why he feels his company is in a strategic position to gauge this opportunity.
Our three titles – Gas Matters Today, Gas Matters and LNG Business Review – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.
Gas Matters Today
Gas Matters Today's news analysis keeps you fully briefed on the relevant people, companies and events shaping the gas, LNG and wider hydrocarbon industries.
Gas Matters provides essential context for the global gas industry and wider energy complex, pairing insider insight with broader themes - from geopolitics to macroeconomics to regulatory risk.
LNG Business Review
LNG Business Review gives the insiders view on issues LNG mangers are facing today, written by Gas Strategies' network of LNG experts.Stay current and search the past
Access news and features published daily*, plus a fully searchable archive.Available when you need it
Save stories, features, news and interviews and also read offline in the Gas Strategies app.Stay up-to date
Get real-time access to articles as they are published with alerts for the latest content.Flexibility
Access content via mobile or tablet, dedicated apps, web browser or customise a downloadable pdf.Subscribe
For more information please contact the subscriptions team on +44 (0) 20 7332 9981 or [email protected]
*Monday to Friday, excluding UK public holidays.