|Our Sustainability Priorities||What this means||UN SDG||Page*|
|Emissions to Air||Reduce GHG emissions across our fleet and lead the maritime industry to a more sustainable future||13||24|
|Energy Management||Optimise vessel efficiency and voyage operations||7, 13||26|
|Ship Recycling||Support the maritime industry's efforts to make ship recycling more responsible and transparent||15||28|
|Spills to Sea||Protect ocean health by proper waste management and minimizing spills to sea||14, 15||30|
The fundamental demands on shipping are changing. It is not just about shipping energy across world markets safely, more quickly and more efficiently. Increasingly, it is also about doing it more sustainably and responsibly. Climate change is real and at BW LPG, we want to protect the environment for future generations by investing in technology that can combat climate change.
2020 marked the start of our project to retrofit 15 of our vessels with pioneering LPG dual-fuel propulsion technology, a project which began in early 2016 as part of our plans for a more sustainable and efficient ship design for the future. In collaboration with MAN ES, Wartsila, DNV and Isle of Man flag state, we pioneered the technology that allows us to use both conventional fuels and LPG - a cleaner marine fuel - to power our vessels.
Our commitment to retrofit 15 of our VLGCs with LPG dual-fuel propulsion engines represents an investment of over US$130 million. As of February 2021, four of our VLGCs have been successfully retrofitted and are serving our customers. In 2021, eight more vessels will be retrofitted, and the remaining three will be completed in 2022.
From an environmental perspective, installing new technology on our existing fleet makes better sense as the carbon footprint of a conversion is about 35 times less than a newbuild.
The construction of a new vessel generates about 70,000 tonnes of carbon emissions while the retrofit upgrade generates only 2,000 tonnes. This translates to an environmental payback of 15 years for a newbuild but less than 6 months for a retrofit.
Half of the global VLGC fleet can be retrofitted to run on LPG, and we are proud to lead the way by committing 15 of our VLGCs for retrofitting with LPG propulsion technology.
Decarbonisation is one of the industry’s main challenges and a core commitment of BW LPG in the pursuit of sustainable development.
To get from current limits of technology to a future where zero-carbon propulsion alternatives such as ammonia and hydrogen are mainstream options, significant advancements are needed.
One such advancement has been the ability to efficiently power large two-stroke dual-fuel engines, utilising the diesel cycle combustion process to burn propane or LPG. BW LPG has taken the lead in advancing technology that will allow us to decarbonise and maximise the value of an asset with a 20-year lifespan as we prepare for zero-carbon solutions. This complements our commitment that by 2030, we will not have any newbuilding that cannot achieve net-zero emission during its lifetime.
BW LPG has taken the lead in advancing technology that will allow us to decarbonise and maximise the value of an asset with a 20-year lifespan as we prepare for zero-carbon solutions this complements.
At BW LPG, we are on a journey to create zero-carbon shipping. Now, with LPG propelling our biggest carriers, we are well on our way.