November 2014 saw the start of an investigation into alternative financing opportunities for port infrastructures related to the usage of Liquefied Natural Gas (LNG) in the EU, with ISL working cooperatively with Ocean Shipping Consultants (Lead Partner / UK) and MARINTEK (NO). This study is part of a master plan by the European Commission to create the necessary conditions for the use of LNG as a fuel in the shipping industry.
The starting point for this study is the consistently growing importance of environmental protection in shipping, and the resulting technical and operational challenges facing the maritime sector regarding a reduction in shipping emissions. Against this backdrop stands the use of LNG as a shipping fuel that has in recent years become increasingly significant as an alternative to conventional fuels - and there remains the question regarding the development of LNG bunker facilities in order to serve the demand for LNG. Thus, it is the aim of this study to provide an estimate of the number of ships expected to sail European waters within the next 15 years. In addition, this project will investigate the capital and operational costs of various bunker facilities, i.e. truck–to-vessel, bunker terminal–to-vessel, and vessel-to-vessel alternatives, estimate their effects on capital values and the internal interest rate, and examine possible alternative forms of financing.
Based on this, a number of potential alternatives for financing mechanisms one will develop.