INVESTING IN TECHNOLOGY
One way that we are protecting the environment for future generations is by investing in technology that can combat climate change. Together with leading engine manufacturers, we pioneered the world's first marine engine that can run on LPG. With this technology, we are also taking the lead and advancing technology towards zero-carbon propulsion.
Significantly, we are pioneering the conversion of 12 ships to LPG as fuel for propulsion. These vessels, due for completion in 2020 and 2021,will emit up to 97% less Sulphur and 20% less nitrogen than heavy fuel oil. They will reduce emissions of particulate matter by up to 90% and carbon emissions by up to 25%. Although it requires significant upfront investment, the returns are positive in both financial and environmental terms, and demonstrate our commitment to action on ESG.
We are also investing in digitalisation through our SmartShips initiative to improve the efficiency of our fleet with real-time data and monitoring of performance and fuel efficiency; and are researching into the use of alternative fuels such as ammonia. We are also tapping upon BW Group's initiatives in other areas of research and development.