- Royal Caribbean International’s Icon of the Seas, capable of accommodating 8,000 passengers, sets sail from Miami.
- The ship operates on liquefied natural gas (LNG), which has fewer emissions but a higher risk of methane leakage.
- Environmental groups warn that despite cleaner burning, LNG-run ships emit significant methane, a potent greenhouse gas.
- While the shipping industry favors LNG due to decreased greenhouse gases emissions, the International Council on Clean Transportation criticizes its use for life-cycle greenhouse gas emissions.
- LNG-fuelled ships contribute significantly to global temperature rise due to methane’s warming effect.
- Presently, around 6% of the 300 cruises function on LNG, while 63% of 54 ships, due from January 2024 to December 2028, are anticipated to use LNG.
Royal Caribbean’s LNG-Powered Ship
Embracing the booming cruise demand, Royal Caribbean has launched the Icon of the Seas from Miami. The vessel can carry up to 8,000 passengers across its 20 decks. Built to operate on LNG, this fuel selection accounts for its increased efficiency, yet also raised environmental concerns.
Concerns Over Methane Emissions
Despite the cleaner burning of LNG, environmentalists sound the alarm on potentially dangerous methane emissions. Bryan Comer, director of the Marine Program at the ICCT, condemned the LNG as a “step in the wrong direction,” due to high life-cycle greenhouse gas emissions. Furthermore, methane, if leaked, amplifies global warming, emphasizing the urgency to control its emissions.
Fuel Efficiency of LNG-Powered Ships
Royal Caribbean defends its choice of LNG, stating that their new ship is 24% more efficient concerning carbon emissions. Sea-LNG’s Steve Esau further supports these arguments, stating that LNG has fewer greenhouse gases emissions compared to other marine fuels.
Fuel Alternatives for Cruise Ships
According to the Cruise Line International Association, the new fleet of cruise ships will use various fuels as the market evolves, including conventional marine gas oil, bio-LNG, and LNG. Royal Caribbean’s Vice President Nick Rose, regards LNG as a crucial part of their strategy.
The rise in LNG-fueled ships will influence the forex market, particularly assets linked to natural gas. Traders will be keeping a close eye on the price of LNG, as demand in the shipping industry increases.