Low Greenhouse GasEmission Ship
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- Institutt for marin teknikk 
The fleet consists of 6 LNG carriers where 3 have a loading capacity of 44 000 tons while the remaining 3 ships can lift 33 00 tons of LPG. Since the ships are set to operate at speeds between 14 and 20 knots it is necessary to upgrade the prime movers as the service speeds range from 14.5 to 16.7 knots. BW Clipper will prove to be far more effective in terms of fuel consumption compared to the other ships due to higher initial service speed and a relatively efficient engine. The fleet will operate within tramp shipping fulfilling 18 contracted orders and serving the spot market in between ordered shipments. The duration and the profitability of the orders influenced the net income. It is favorable to be committed to profitable contracted orders in recession while it is unfavorable to be bound to low rate contracted orders in prosperity. The ships were assigned to two to four contracted orders each. The fuel prices are changing rapidly and the magnitude of the variations can be vast. This impacts the shipping companies as the fuel costs are a large item of expenditure in the shipping industry. For the period between second half of 2006 and end 2007 I estimated the IFO 180 price to be 353 USD/ton, while it was 383 USD/ton in a defined prosperity level and 138 USD/ton in a defined recession level. The freight rates for the actual level, the prosperity level and the recession level were estimated to 36.5 USD/ton, 63 USD/ton and 25.7 USD respectively. The spot market potential was fully utilized at the prosperity level, 88% in the actual level while only 57.5% was utilized in the recession level.