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Thursday, 26 April 2012

Keppel sees market in fuel conversion by ships

SINGAPORE - Keppel Corp Ltd, the world's biggest rig-builder, expects tighter global marine fuel emission standards to force some shipowners to convert their vessels to run on less polluting natural gas, Chief Executive Choo Chiau Beng said.

A shift from low-sulphur diesel, which is more expensive than gas, will spur a retrofit for thousands of vessels worldwide and create a new market for rig-builders including Keppel's Singapore-based rival Sembcorp Marine Ltd.

The conversion may provide shipyards with billions of dollars in potential revenue in the coming decades, according to analysts.

"Right now everybody is looking at gas for bunkering ships.

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