Newport Shipping gets DNV OK for LNG fuel tank system

UK-based Newport Shipping has secured approval in principle from classification society DNV for an LNG fuel tank system which it plans to offer for retrofit projects.

The approval affirms the technical feasibility of the concept for very large crude carriers and Capesize tankers, Newport said in a statement.

Newport’s concept features on deck-mounted Type C LNG tanks which the firm says it can install without major modifications to the vessel hull.

Moreover, the solution includes a dual-fuel engine that would also be suitable for future use of carbon-neutral methane such as bio-LNG, the firm said.

“LNG is one of the cleanest transition fuels currently available globally,” Newport’s managing director Lianghui Xia, said.

He said that owners could reduce CO2 emissions by between 20% and 30% just by switching to LNG without installing any other equipment.

In addition, Xia said that Newport would offer a long-term payment plan over five to seven years on 60% of the total cost to clients for its LNG retrofit solution.

The firm has also partnered with Spain’s Cotenaval on the solution.

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