Ferry Operator Says Switching to LNG Will Save it Over $10 Million Per Year

Canadian ferry operator BC Ferries on Monday announced it plans to save CAD$12 million (U.S.$10.8 million) by using Liquefied Natural Gas (LNG) to power five of its vessels.

The savings will come in large part due to the conversion to duel fuel of its two largest, Spirit-class ferries and will be spread over the vessels' remaining useful lives of approximately 27 years.

In addition, improvements will be made to the two ferries' hulls.

Furthermore, the company's plans to build three smaller dual fuel vessels for delivery between 2016 and 2017 are already underway.

"We've been driving a culture of cost containment in many areas of our business without compromising safety and we are moving forward with LNG conversions, which will help us realize significant environmental benefits and enormous financial savings on our fuel bill," said Mike Corrigan, President and CEO at BC Ferries.

“[LNG] is a game changer for BC Ferries" Mike Corrigan, President and CEO, BC Ferries

"Operating on LNG, which is approximately 50 per cent cheaper than marine diesel, is a game changer for BC Ferries," he added.

The company says its fuel bill totalled CA$126 million last year with the two Spirit-Class vessels responsible for approximately 15 per cent of the fleet total.

The conversion project was first touted in July this year and is understood still to be awaiting the green light from British Columbia's provincial Ferries Commissioner.

Source: Ship and Bunker

Also see: BC Ferries Press Release