French LNG systems group GTT is launching a project that can boost the capacity of a container ship at the same time as retrofitting it to run on gas.
GTT has teamed up with French retrofit consultancy Alwena Shipping, run by chief executive Ludovic Gerard, a former manager at container line CMA CGM.
The work will cost $41m and take two years from contract signing to completion but will extend the lift of 10-year-old boxships until 2045.
Payback on the investment is calculated at seven years, the companies said at Nor-Shipping event.
Ships of between 9,000 teu and 14,000 teu are being targeted.
Gerard said there are 60 to 70 good candidates for the work, which will take four months at Cosco Heavy Industries’ Zhoushan shipyard.
Based on historic fuel prices, the retrofitted ships will save $1.4m per year by running on LNG, and comply with the International Maritime Organization’s new efficiency regulations immediately.
Operating expenses should come in at $16,000 per day.
The extra 1,148 of teu capacity added through slotting in a new 28.9-metre section towards the aft will generate additional revenue of $6m per year, the companies said.
Going greener
The vessels will be able to move on to bioLNG and then synthetic LNG produced from green hydrogen in time.
GTT has based the concept on its work to retrofit Hapag-Lloyd boxships.
“It is the only way to address both sides of the equation at the same time,” Gerard said.
The LNG tank will hold 12,230 cbm, enough for a round trip from Europe to Asia.
The companies are particularly targeting vessels in the 9,000 teu to 10,000 teu and 13,000 teu to 14,000 teu ranges.
Talks have begun with banks over financing for the retrofits.
“They welcome very much such a solution,” Gerard said of the lenders.
This will coincide with the usual refinancing timing of ships heading towards 10 years of age.
