Peter Livanos, one of the world’s most successful shipowners, has forecast that it is “inevitable” LNG will become the principal fuel for shipping in coming years.

Short-term hurdles such as lack of fuelling infrastructure and the life of existing ships will be overcome as the benefits of LNG use become more firmly entrenched, he said.

“It’s inevitable that LNG will become the primary means of fuelling maritime transport,” he told an seminar in Athens today on the future of LNG organized by ABS.

“It’s coming. The train has left the station. LNG will dominate marine fuel.”

George Procopiou, chairman of Dynagas, added: “I agree.”

LNG will take decades to overtake oil-based fuels, Alphatanker says
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Livanos, who is chairman of US-listed GasLog, said two problems were currently “acting as a brake” – the lack of infrastructure and the lifecycle of existing vessels.

But both will be overcome as the business case to replace and renew infrastructure becomes fully apparent.

John Angelicoussis, founder of Maran Gas Maritime and the biggest Greek shipowner, said LNG today was “prohibitively” expensive, so he was opting for scrubbers to comply with the new 2020 low Sulphur fuel rules.

“Scrubbers meet the regulations but also can make some money,” from saving on higher cost marine diesel oil.

“I have adopted scrubbers as I’m in the business of making money,” he said to laughter from the audience at the Stavros Niarchos Foundation Cultural Centre.

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