LNG carrier player GasLog has revealed an increase in its carbon intensity for 2022 as it was forced to use less LNG as a fuel.
The Peter Livanos-controlled shipowner said in its latest sustainability report that total CO2 emissions actually decreased last year, mainly because of the partial operation of two vessels as floating storage units (FSUs).
“However, worldwide port congestion and lower usage of LNG as fuel, instructed by our charterers, changed the fleet’s operating profile and had a direct negative impact on our AER [annual efficiency rating], which increased,” GasLog added.
TradeWinds has previously reported that use of gas as a fuel has decreased in general as it became ever more expensive since the invasion of Ukraine.
The annual efficiency ratio (AER) is calculated by dividing a vessel’s annual carbon emissions by its annual dwt/miles.
The Greek owner’s 21 ships emitted 7.51 grammes of CO2 per dwt/mile in 2021, and this rose to 8.09 grammes last year.
Total CO2 emissions dropped to 1.29m tonnes from 1.39m tonnes, however.
“Given that LNG is the cleanest commercially available marine fuel, our vessels are primarily powered by the boil-off of the cargo they carry (73% in 2022), making us amongst the lowest carbon intensity commodity transporters,” GasLog said.
The 145,000-cbm GasLog Athens (built 2006) and 155,000-dwt GasLog Singapore (built 2010) operated as FSUs in 2022, for six and nine months, respectively.
The vessels were granted exemption from the International Maritime Organization’s Data Collection System (DCS) reporting by their flag states for these periods.
Chief executive Paolo Enoizi said in the report: “We believe LNG still plays a critical role in supporting the most efficient bridge to achieving net zero by 2050 by displacing higher carbon-intensity conventional fuels such as coal.”
He outlined three priorities for the company in terms of decarbonisation: improving the efficiency of its vessels, collaborating with charterers to deploy digital tools, and advocating for common and shared rules that are reliable, clear, and workable while stretching and challenging the status quo.
Another ship deployed as an FSU
In June, a GasLog-owned LNG carrier arrived in the Caribbean to act as an FSU for a new LNG cargo breakbulk facility being launched by New Fortress Energy and Ocean Point Terminals.
Kpler data showed the 155,000-cbm GasLog Singapore (built 2010) arrived in a laden condition at Ocean Point Terminals on St Croix in the US Virgin Islands on 15 June.
The vessel, which is employed on a two-year time charter to New Fortress, originally loaded its cargo in Nigeria, calling at New Fortress’ facility in Jamaica before moving on to St Croix.
