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VLCCs look set to benefit from LNG fuel

If the rates of the VLCC market were better, the first crude oil tanker running on LNG fuel would already be operating, says Henrik O. Madsen, CEO of DNV GL.

If the market for the huge cruce oil tankers, the VLCCs, wasn't so wretched, the first tanker running on LNG fuel would already be in the market, says Henrik O. Madsen, CEO of the new classification company DNV GL Group. The combination of the ships and LNG forms a basis for more optimal operations, he tells ShippingWatch:

"VLCCs are ideal for gas operations, as they move more or less straight from a to b," he says, referring to the fact that the large tankers often transport the oil between two set destinations, meaning that they don't rely on an well-developed network of LNG terminals.

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