Why Shippers Are Turning to LNG-Powered Vessels
- Number of natural-gas powered ships may grow 15-fold by 2020
- Enviromental, financial concerns combining to push changeover
Tugboats help guide a container ship approaching the Port of Long Beach in Long Beach, California, U.S.
Photographer: Tim Rue/BloombergThis article is for subscribers only.
When TOTE Inc., a shipper that operates between the U.S. and the Caribbean, launched its latest container ship last month, the 760-foot craft carried a certain distinction: It’s only the second of the massive vessels worldwide fueled by liquefied natural gas.
The first was launched four months earlier by the same company.