October 22, 2020 | less than a minute read

Positive outlook for shipping in Gibraltar

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A good news story in the context of the port and shipping sector in Gibraltar. The investment in LNG as a jurisdiction enables Gibraltar to target and service the growing number of operators which are currently running LNG vessels or, as is describe in this article from Dry Cargo International, to convert vessels to LNG. The order book for LNG vessels as at September 2019 stood at close to 200 and the number of vessels equipped to run LNG is only set to grow quickly given pressure on the shipping industry to reduce greenhouse gas emissions.

With the right investment in infrastructure and long term vision, Gibraltar is set to take continuing advantage of its location and its strategy to continue to be one of the busiest refuelling ports in the Mediterranean, whatever the nature of the fuel may be.

Environmental retrofits, including the installation of scrubbers and ballast water treatment systems, comprise an important and continuing revenue stream. The shipyard also successfully completed engine conversions on two Balearia-owned ropax vessels, the 950-passenger Nápoles and the 1,000-passenger Bahama Mama, from conventional to LNG propulsion.