BW LPG is now mid-way through retro-fitting 15 vessels in its fleet to run on LPG with eight on the water, one in sea trials, and one currently at the yard. The company said in its second quarter results presentation that it is investing $130m in the retrofit programme and recently secured $45m in transition financing to fund six LPG dual-fuel engines.
In the second quarter the BW LPG retrofitted four vessels to run on LPG.
The company’s first LPG-fuelled retrofit – BW Gemini – made its first voyage on the transpacific using LPG fuel last November.
Anders Onarheim, CEO of BW LPG told a results call: “It’s been nearly a year since we’ve begun this program with BW Gemini, the world’s first very large gas carrier to be powered by pioneering LPG dual-fuel propulsion technology. We are now more than half way through this programme and which is our keystone project for decarbonisation.
“Once all 15 VLGCs are retrofitted, we will have saved 1 million tons of CO2 emissions,” he added, in a transcript of the call by Seeking Alpha.
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