INDUSTRY TITANS SHARE THOUGHTS ON THE FUTURE OF LNG
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panel discussion held in June at the Stavros Niarchos Cultural Center in Athens, Greece, brought together several shipping luminaries for a wide-ranging look at LNG, both as a cargo and as a marine fuel. Organized by ABS, the panel addressed numerous topics of interest, including: the evolution of the LNG shipping business; changing trends in charters and the pros and cons of long- vs. shortterm hire for LNG carriers; the impact of shale gas;
how digital technologies could improve operational efficiencies; and the possible effects on overall quality and safety of inexperienced owners entering the various new LNG-related sectors. Although it is impossible in this space to transmit all the insights offered by the panelists in the twohour session, we present here a few comments of interest. n
ON TECHNOLOGY AND LNG CARRIAGE, AS CARGO AND AS FUEL: “Technology is allowing us to find the right balance between cargo maximization and ship efficiency, the right combination of active and passive measures to manage everything from cargo boil-off to fuel consumption. Because the traditional advances accomplished through naval architecture have largely been optimized, I expect that, going forward, the next big technology improvement is going to be in how data analytics and digital technologies are applied to improving cargo boil-off rates and operational aspects like reliability, performance and fuel consumption.” – Chris Wiernicki, Chairman, President and CEO of ABS
ON EVOLUTION OF THE LNG MARKET “The LNG shipping market has evolved as the value and size of the trade has increased. Larger vessels are now the standard, charterers are moving toward shorter-term periods and the spot market is growing. New owners are moving into the sector, so the question is how much experience will matter to charterers and will they be willing to pay for it.” – Michael Tusiani, Chairman Emeritus, Poten and Partners
26 | SURVEYOR | 2018 VOLUME 4
