LNG is the top option for environmentally friendly bunker these days but adoption costs are deterring some charterers from making a capital commitment, according to owners.
Converting a ship over to the fuel to meet IMO 2020 can cost as much as $30m, while an exhaust gas scrubber can be put on a vessel for as little as $2m.
"We're starting to see LNG as the choice for many but the charterers are not really willing to pay their share of making this transition," 2020 Bulkers chief executive Magnus Halverson said.
