Triality - Presstogo
Triality - Presstogo
Triality - Presstogo
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<strong>Triality</strong><br />
Taking the environmental and economic performance of VLCCs a great step forward
Contents<br />
the triality vlcc 4<br />
the green vlcc 6<br />
lng as fuel 8<br />
A ballast-free design 10<br />
Using the low lng temperature to capture<br />
cargo vapours that are otherwise lost 12<br />
Using the low lng tempareture to cool<br />
the scavenging air to main engines 14<br />
is it possible to go green and be profitable? 16
“<br />
A conventionAl vlcc is AlreAdy An energy efficient<br />
cArgo cArrier. this project shows thAt performAnce<br />
cAn be significAntly improved.<br />
“
4 triAlity vlcc<br />
The <strong>Triality</strong> VLCC<br />
triality is an innovative concept<br />
vlcc that fulfils three main<br />
goals:<br />
1. it is environmentally superior<br />
to conventional vlccs<br />
2. it has technically feasible<br />
solutions<br />
3. it is more economical than<br />
conventional vlccs<br />
the name triality reflects these<br />
three main elements. triality is<br />
defined as three united, “the<br />
state of being three”.<br />
triality is a vlcc that has the same operational range and capacities as<br />
other vlccs. three most likely trading routes have been selected for our<br />
study, all starting in the gulf. one is to the Us, one is to europe and one<br />
is to china:<br />
the triality concept consists of different elements. each has been compared<br />
environmentally and economically with a base case which represents<br />
a conventional vlcc. the first step was the introduction of lng as fuel in<br />
a conventional vlcc. the main engine is a high pressure dual fuel ( gas or<br />
oil fuel) two-stroke engine, while the generator engines are low pressure<br />
dual fuel engines and the boilers are also multi fuel versions.<br />
the next step was to introduce a ballast-free more v-shaped hull design in<br />
addition to the lng propulsion. the limited draft leads to some changes to<br />
the machinery configuration, and a two-propeller arrangement has been<br />
chosen. finally a voc re-condensation system and the cooling of the main<br />
engine scavenging air were added. each step makes the concept better<br />
from both an economic and environmental point of view.
main dimensions: lpp= 351m, loa= 361m, b=70m, t (design, mean)= 21.6m, t (unloaded, mean) = 7.1m. speed= 15 knots/ 16.5 knots, 300 000 dwt.<br />
block coefficient loaded: 0.6 and unloaded: 0.52.
6 triAlity vlcc<br />
The green VLCC<br />
each step in the evolution<br />
from a conventional vlcc to<br />
triality has an impact on energy<br />
consumption and/or emissions<br />
to air and discharges to sea. the<br />
energy demand is reduced for<br />
most of the steps, giving a total<br />
25% reduction in yearly energy<br />
consumption.<br />
Relative change in energy consumption<br />
compared to base case (% MJ)<br />
Relative change in emissions<br />
compared to base Case<br />
CO2; 77%<br />
NOx; 86%<br />
Conventional + LNG<br />
100%<br />
SOx; 5%<br />
Particles; 6%<br />
VOC; 100%<br />
Ballast water; 100%<br />
CO2; 68%<br />
V-shape + LNG<br />
89%<br />
NOx; 74%<br />
SOx; 6%<br />
Particles; 6%<br />
Conventional + LNG V-Shape + LNG V-Shape + LNG + VOC <strong>Triality</strong><br />
the nox reduction given above is gained without adding any treatment<br />
system. by adding a simple exhaust gas recirculation system for the main<br />
engines a further reduction of at least 82% can be gained, fulfilling tier iii<br />
emission requirements for ships built after 2016.<br />
co2 emissions from triality compared with other transport alternatives,<br />
based on imo figures published in 2008:<br />
triality 3 g/tonkm<br />
heavy truck with trailer 50 g/tonkm<br />
Air freight 540 g/tonkm<br />
cargo vessel >8 000 dwt 15 g/tonkm<br />
V-shape + LNG + VOC<br />
77%<br />
CO2; 68%<br />
NOx; 74%<br />
SOx; 6%<br />
Particles; 6%<br />
VOC; 0%<br />
<strong>Triality</strong> - V-shape LNG<br />
VOC + CoolAir<br />
75%<br />
CO2; 66%<br />
NOx; 71%<br />
SOx; 6%<br />
Particles; 6%<br />
VOC; 0%
triality has the same cargo capacity<br />
and operational range as a conventional<br />
vlcc, but emits 34% less co2
8 triAlity vlcc<br />
LNG as fuel<br />
lng as fuel is a proven concept<br />
for short sea shipping. now this<br />
alternative is being developed for<br />
full-scale deep-sea shipping.<br />
lng is used for propulsion, power and steam production (instead of hfo).<br />
triality will have twin high pressure dual fuel two-stroke main engines<br />
using marine gas oil (mgo) as pilot fuel, low pressure dual fuel generator<br />
engines using mgo as pilot fuel and a triple fuel boiler that can burn<br />
natural gas, mgo and volatile organic compounds (vocs = hydrocarbon<br />
vapours recovered from the cargo tank atmosphere). two pressure tanks<br />
(imo type c), each of 6 750 m 3 volume, will be located in deck houses<br />
in front of the superstructure on the main deck. the lng tanks are kept<br />
at a pressure of 5-6 bar by the use of pressure build up heat exchangers.<br />
this is sufficient to supply lng to the high pressure pumps for the twostroke<br />
main engines without using submerged pumps. pumping lng to a<br />
high pressure is much more efficient than using compressors to create an<br />
equally high pressure.<br />
the lng fuel tank pressure is sufficient to supply lng through the low<br />
pressure vaporizers and to the auxiliary engines and boilers without the<br />
use of pumps. A submerged pump is, however, included in each tank.<br />
this can be used to pump lng out of the tank should the tank pressure<br />
be too low.<br />
lng export terminals are located relatively close to important crude oil<br />
terminals in the gulf area. making lng available as fuel should therefore<br />
be a realistic possibility.<br />
the lng volume stored on board triality is sufficient for a range of 25 000<br />
nautical miles, so that bunkering in the gulf can provide enough fuel for<br />
even the longest round trips. this is standard practice for conventional<br />
vlccs today. lng terminals are also close to crude oil import terminals<br />
visited on our chosen routes, so in the future bunkering may be possible<br />
at many locations.
natural gas is used as fuel for triality’s slow speed main engines, auxiliary<br />
engines and auxiliary steam boilers. the 13 500 m 3 lng fuel tank capacity<br />
gives the vessel a range of 25 000 nautical miles.
10 triAlity vlcc<br />
A ballast-free design<br />
A conventional vlcc carries<br />
sea water as ballast in transit in<br />
unloaded condition and during<br />
loading and discharging in port.<br />
ballast water is used by all vlccs today for two purposes:<br />
• to achieve sufficient draft and suitable trim<br />
• to control hull stress levels<br />
the ballast operations have two main unwanted effects:<br />
• ballast water may contain organisms that can cause damage when released<br />
into foreign ecosystems. this is why the imo has established the<br />
international convention for the control and management of ships’<br />
ballast water and sediments. expensive ballast treatment systems will<br />
also increase fuel consumption.<br />
• Additional fuel is needed to transport 80–100 000 tons of ballast<br />
water.<br />
triality has a ballast-free design with the following characteristics:<br />
i. new transverse cargo tank divisions enable cargo tanks to be loaded<br />
without the need for ballast for strength or trim/heel compensation<br />
ii. the new v-shaped hull form provides sufficient draft without cargo or<br />
ballast<br />
iii. the new hull shape has a mean average of 16% less wet surface on a<br />
roundtrip, a lower block coefficient and is 11% more energy efficient
the new hull shape is designed for sufficient draft, even in an empty condition.<br />
new cargo tank divisions eliminate the need for ballast, including during cargo<br />
operations.
12 triAlity vlcc<br />
Using the low LNG<br />
temperature to capture cargo<br />
vapours that are otherwise lost<br />
the global fleet of crude oil<br />
tankers is estimated to emit five<br />
million tons of cargo vapours annually<br />
during transit.<br />
the low temperature associated with lng vaporization is used to capture<br />
cargo vapours (volatile organic compounds – vocs) normally released<br />
to the air during voyage. it is estimated that up to 500-600 tons of cargo<br />
vapours can be captured during each cargo roundtrip.<br />
the recovered cargo vapours are stored in deck tanks and intended for<br />
use as fuel for auxiliary boilers supplying steam to operate cargo pumps.<br />
significant financial losses are avoided and environmental benefits are<br />
gained.
triality uses the low lng temperature to capture cargo vapours otherwise lost to<br />
the atmosphere. this reduces the annual fuel consumption by eight per cent.
14 triAlity vlcc<br />
Using the low LNG<br />
temperature to cool<br />
scavenging air to main engines<br />
the cooling energy from the<br />
lng glycol circuit may be used<br />
for different cooling purposes<br />
in a ship.<br />
the low temperature from the lng vaporization and pressure build up<br />
process can be used for various purposes. the glycol circuit is at the heart<br />
of this process.<br />
triality uses cooling energy primarily for voc re-condensation but also<br />
to cool scavenging air for the main engines. this will increase efficiency<br />
by up to three per cent. the remaining cooling effect can be used for<br />
the fresh water cooling of the engines. the glycol circuit must be kept<br />
at a temperature above minus 40°c to avoid freezing. sea water heat<br />
exchangers have also been included to provide additional heating when<br />
needed. the low lng temperature may also be used for other purposes<br />
like air conditioning, freezers, fridges and so on.
don’t underestimate the value of cooling. the scavenging air cooling may provide<br />
an energy efficiency gain of up to three per cent.
16 triAlity vlcc<br />
Is it possible to go green<br />
and be profitable?<br />
the financial performance of<br />
triality is evaluated with respect<br />
to investment and voyage cost,<br />
compared to a conventional<br />
vlcc run on hfo with a ballast<br />
water treatment (bwt) system<br />
and an exhaust gas scrubber.<br />
the shipping industry is facing an ever increasing demand to reduce its<br />
environmental footprint. for ships built before 2016, the present challenge<br />
is to comply with ballast water and emission requirements.<br />
we have estimated that triality has a significantly smaller environmental<br />
footprint than a conventional vlcc run on hfo with a ballast water treatment<br />
system (bwts) and an exhaust gas scrubber (conventional vlcc).<br />
the question then is: is it possible to go green and be profitable? the<br />
short answer is yes – triality is more profitable than a conventional vlcc.<br />
the financial analysis (investment cost versus voyage costs for different<br />
fuel price scenarios ) shows that triality:<br />
• improves the expected present value before tax by mUsd 24 in the<br />
reference fuel price scenario (this corresponds to around 20% of the<br />
investment cost for a conventional vlcc)<br />
• is profitable until the lng price reaches Usd 15 per mmbtu in the<br />
reference oil price scenario<br />
• is more profitable than a conventional vlcc except in the low oil price<br />
scenario<br />
these points are substantiated on the following pages.
even with different investment<br />
scenarios there are good margins<br />
in favour of triality.<br />
Steel -1.3<br />
LNG Tanks & Systems<br />
-15.7<br />
Engines & Boilers<br />
-3.9<br />
VOC Systems & Tanks -3.0<br />
Cool Air -0.1<br />
Coating<br />
+0.4<br />
Scrubber<br />
+4.4<br />
Ballast System<br />
Recuced Voyage Costs<br />
TRIALITY<br />
+4.8<br />
figure 1: triality cost structure compared to<br />
a conventional vlcc.<br />
<strong>Triality</strong> improves expected present value before tax<br />
by MUSD 24 in the reference fuel price scenario<br />
over 20 years triality improves expected present value by mUsd 24 compared<br />
to the conventional vlcc in the reference fuel price scenario. the<br />
chart below shows how the triality cost structure differs from a conventional<br />
vlcc. in short, triality increases the initial investment by mUsd 14<br />
and reduces the voyage costs by mUsd 38.<br />
Expected present value before tax compared to a conventional VLCC run on HFO (MUSD)<br />
-30.0 -20.0 -10.0 0.0 10.0 20.0 30.0<br />
MUSD 14 in extra investments<br />
+38.2<br />
+24.2
18 triAlity vlcc<br />
figure 2: lng breakeven price for different price scenarios<br />
<strong>Triality</strong> is profitable until the LNG price reaches USD<br />
15 per MMbtu in the reference fuel price scenario<br />
triality is profitable with an lng price up to Usd 15 per mmbtu given the<br />
reference oil price scenario. given high and low oil price scenarios the<br />
expected breakeven price is Usd 26 and Usd 6 per mmbtu respectively.<br />
the chart below shows the difference in present value before tax (∆pv<br />
b.t.) between triality and the conventional vlcc as a function of lng<br />
and oil price.<br />
PV b.t. between TRIALITY and conv. VLCC on HFO (MUSD)<br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
-20<br />
-40<br />
-60<br />
-80<br />
-100<br />
-120<br />
-140<br />
-160<br />
-180<br />
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27<br />
Start price of LNG long-term bunker contract (USD/MMbtu)<br />
HIGH<br />
REFERENCE OIL PRICE SCENARIO<br />
LOW<br />
Breakeven
figure 3: triality financial performance for different fuel<br />
price scenarios.<br />
TRIALITY IS BEST<br />
Oil price (USD/MMbtu) LNG price (USD/MMbtu)<br />
L<br />
L<br />
L<br />
R<br />
R<br />
R<br />
H<br />
H<br />
H<br />
PV b.t. from conp. to the conv. VLCC (MUSD) Payback time (yrs)<br />
2010-35 2010-35 -100.0 -50.0 0.0 50.0 100.0 150.0 0.0 -5.0 10.0 15.0 >20.0<br />
L<br />
R<br />
H<br />
L<br />
R<br />
H<br />
L<br />
R<br />
H<br />
<strong>Triality</strong> is more profitable than the conventional<br />
VLCC except in the low oil price scenario<br />
so far we have mainly discussed the financial performance given the reference<br />
fuel price scenario. there are major uncertainties connected with<br />
fuel price developments. the figure below gives a more detailed view of<br />
fuel price scenarios, present values and the payback time on marginal<br />
investment (mUsd 14). triality is more profitable than the conventional<br />
vlcc in the reference (r) and high (h) oil price scenarios irrespective of<br />
the lng price scenario. the present value before tax is mUsd 9–129.<br />
the payback time on marginal investment is 6–16 years.<br />
MUSD 24
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