Cost-benefit analysis of using LNG as a fuel for vessels

Abstract

This study presents a comprehensive cost-benefit analysis of LNG as a marine fuel, evaluating it against conventional options like HFO and MGO. The research methodology adopts a mixed-method approach, combining quantitative analysis such as financial modeling and emissions calculations, with qualitative insights drawn from industry case studies, regulatory reviews, and expert opinions. Key evaluation metrics include fuel cost comparison, capital and operational expenditures, regulatory compliance, and environmental impact. Data is drawn from credible international sources, including the International Maritime Organization (IMO), DNV, Lloyd’s register, and real-world case studies on LNG powered vessels.