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New model needed to fund research, promotion of new fuels: George Terriakides, DNV GL Regional Development Director

It will take time to strike a balance after the premiere of the implementation of the new IMO regulations this year on maritime fuel, according to George Terriakides, DNV GL Regional Development Officer for Southeast Europe, Middle East & Africa.

A few weeks later, there are major price differences in many places and shipping companies are called upon to get fuel while not yet having detailed specifications, he said in an interview with maritimes.gr during a press conference at the company’s offices at Piraeus on the results of 2019 and plans for 2020.

Studies suggest that all alternative fuels could be used to a greater or lesser extent, but the cost of the transition is high and cannot be lifted by shipowners alone, Mr. Terriakides said.

A new model to fund research and promote them is needed, he said.

All alternative fuels have their positives and negatives, but LNG and LPG are more mature, while others are in the research and pilot phase, he noted.

There is still a long way to go and everyone’s contribution is needed, he added, stressing that other solutions are appropriate for each case and for each ship and not all fit in.

Source: maritimes.gr