WinGD Study Identifies LNG as Fastest-Returning Fuel Retrofit Pathway

Engine designer WinGD has released a study evaluating the economic and environmental viability of converting existing tonnage to run on alternative marine fuels as shipowners work toward net-zero targets.

The analysis concludes that retrofitting vessels to operate on liquefied natural gas yields the quickest and most robust commercial return among the examined transition options. While LNG offers the earliest payback timeline, the study notes that other future fuels achieve more significant long-term decarbonisation results.

According to the findings, adopting bio-methanol or ammonia enables considerably deeper cuts in greenhouse gas emissions compared to LNG. However, both of these alternative pathways require extended capital recovery periods for operators.

Under the study's modeling parameters, transitioning ships to any of the three alternative fuel pathways—LNG, bio-methanol, or ammonia—proves superior to continuing operations on very low sulphur fuel oil over the lifetime of a vessel, delivering improvements in both overall costs and cumulative emissions reductions.

Despite the operational advantages over conventional marine fuels, WinGD highlighted that current market conditions necessitate additional regulatory and policy intervention. The company stated that enhanced policy support is essential to strengthen the commercial viability of retrofitting projects and ensure the maritime sector fulfills its broader decarbonisation objectives.