The momentum behind LNG-fueled shipping is slowly picking up, with shipyards in Japan and South Korea planning or building vessels that run on the cleaner-burning fuel, according to Bloomberg. Japan's Kawasaki Heavy Industries plans to introduce LNG-powered vessels in three years, while Korean's Hyundai Heavy Industries is building five tankers that can run on both gas and oil after receiving orders for the vessels last December, according to Bloomberg. If very large crude carriers run on LNG instead of fuel oil, this would cut costs by 27%, Nippon Yusen KK, Japan's secondlargest shipping line, was quoted as saying.
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