A MEC INTELLIGENCE INSIGHT REPORT ON LNG AS A MARITIME FUEL

LNG PROPULSION 2012 AND BEYOND

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THIS REPORT CUTS ACROSS THE SCEPTICISM

AND COMPLEXITY SURROUNDING THE ADOPTION OF LNG AS FUEL

IN THE SHIPPING INDUSTRY

THIS REPORT CUTS ACROSS THE SCEPTICISM AND COMPLEXITY SURROUNDING THE ADOPTION OF LNG IN THE SHIPPING INDUSTRY TO:

FORECAST ADOPTION & EVALUATE OPPORTUNITY• Forecast the adoption of the gas fuelled ships in the key segments of the new-build

market • Evaluate the opportunity for fuel, infrastructure, services and components• Discover prospects to develop leadership stake in the value chain of maritime industry

INSIGHTS INTO THE CURRENT SCENARIO• Analysis of current regulatory drivers and options for meeting them• Analysis of merits and demerits for adoption of LNG and other technologies• Analysis of the current technical scenario and expected developments

PERSPECTIVE ON LNG SUPPLY• Availability of Supply vs. Geography• Key Trends in the LNG Supply• Impact of use of LNG as a fuel in the maritime sector on the marine market.

IN-DEPTH ANALYSIS, INSIGHTFUL FORECASTS & COMPREHENSIVE COVERAGE

Driven by stringent environment regulations, lower costs, and technical advances –LNG propulsion in ships will experience huge growth and can potentially command an installed base of 10,000 vessels by 2020 – creating base for a massive adoption.

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The current small base of the industry is unique opportunity for companies to position themselves to not only ride the technological wave, but also differentiate and gain market share in the largely commoditised equipment and services market.

This report eliminates uncertainty surrounding the industry to forecast scale and timing of development of the opportunity based on comprehensive analysis of the price development, infrastructure availability, and regulatory trends.

LNG PROPELLED VESSELS BY 2020

10.000

The report is a must read for companies in the entire value chain of maritime industry, investors, and energy companies for unmatched insights in the topic.

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LNG PROPULSION 2012 AND BEYOND

Page 3

HEADLINES OF THE REPORT ON LNG AS MARITIME FUEL

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CONTENTS

01  EXECUTIVE SUMMARY 02  BACKGROUND

• SOX, NOX and ECA Zones • Future technology options • Low sulphur fuels • Scrubbers • LNG propulsion • Fuel price forecast  03  LNG PROPULSION

• Trends • Environmental impact vs competing

technologies • Retrofit vs New-Build • Vessel segments • Economic perspective to compliance

options • Infrastructure and bunkering processes  04  LNG MARINE MARKET FORECAST

• LNG Penetration at current • LNG Propulsion forecast 2020 • LNG Propulsion forecast by segment • LNG Propulsion forecast by regions • LNG Fuel market forecast 05  GLOBAL LNG MARKET AND SUPPLY

PERSPECTIVE

• LNG trade patterns • Current and planned infrastructure by

region • Key trends and tendencies in the LNG

market • LNG fuel market vs traditional LNG

market  06  IMPACT ASSESSMENT

• LNG Eco-System • Development among yards • Future vessel deliveries • Marine propulsion development • Fuel flexibility

LIST OF FIGURES

Figure 1: IMO Sulphur limits for ship exhaustFigure 2: Northern European ECA Zones Figure 3: US ECA Zones Figure 4: EU ECA Zones Figure 5: North American ECA Zones Figure 6: ECA Zones TimelineFigure 7: Compliance OptionsFigure 8: Low Sulphur OverviewFigure 9: Fuel OverviewFigure 10: Scrubber technology cost assessmentFigure 11: Historic and Forecast on Fuel Cost DevelopmentFigure 12: Index of Historic and Forecast on Fuel Cost DevelopmentFigure 13: TrendsFigure 14: Emissions across engine typeFigure 15: Retro-fit overviewFigure 16: Generic SS Feeder Scenario: Retro-fit Pay-back vs. Cost of using MGOFigure 17: Retro-fit CostFigure 18: Overview of selected  vessel segmentsFigure 19: Feedermax annual cost (opex plus yearly capex share)Figure 20: Post Panamax annual cost (opex plus yearly capex share)Figure 21: Handymax annual cost (opex plus yearly capex share)Figure 22: Offshore Supply annual cost (opex plus yearly capex share)Figure 23: Panamax annual cost (opex plus yearly capex share)Figure 24: Vessel attractiveness matrixFigure 25: Truck to hip bunkeringFigure 26: Fixed / Terminal bunkeringFigure 27: Barge to ship bunkeringFigure 28: Challenges in Infrastructure and bunkering processes  Figure 29: Current Infrastructure and bunkering facilities in EuropeFigure 30: Planned Infrastructure and bunkering facilities in EuropeFigure 31: LNG bunkering process and flowFigure 32: Current SSFigure 33: Current DSFigure 34: Snapshot of current pure LNG fleetFigure 35: LNG Propelled Vessels [Ratification not delayed]Figure 36: LNG Propelled Vessels [Ratification delayed]Figure 37: World LNG installed base by SegmentFigure 38: World LNG installed base by RegionFigure 39: Annual LNG Fuel Consumption in FleetFigure 40: LNG trade patterns Figure 41: Top trade routes Figure 42: Top suppliers Figure 43: Top consumers Figure 44: EMEA Plants and terminalsFigure 45: EMEA Top Liquefaction plant ownersFigure 46: EMEA Top regasification plant ownersFigure 47: NA Plants and terminalsFigure 48: NA Top Liquefaction plant ownersFigure 49: NA Top regasification plant ownersFigure 50: APAC Plants and terminalsFigure 51: APAC Top Liquefaction plant ownersFigure 52: APAC Top regasification plant ownersFigure 53: Key trends and tendencies in the LNG marketFigure 54: Impact of LNG as a Fuel relative to the traditional LNG marketFigure 55: LNG Eco-SystemFigure 56: Yard development EuropeFigure 57: Yard development AsiaFigure 58: Future vessel deliveriesFigure 59: Propulsion developmentFigure 60: Key engine ManufacturersFigure 61: Fuel flexibility

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LNG PROPULSION 2012 AND BEYOND

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