Shipping Sector and Second-hand LNG Ships Essay

Shipping Sector and Second-hand LNG Ships - Essay Example The modern technology may also be applied to operate as â€Å"floating storage and regasification units â€Å"(FSRU) especially in receiving terminals situated in offshore. In US, UK, Brazil and in Argentina, LNG carriers are operating with onboard regasification facilities. FSRU offers many advantages over traditional on-shore liquefaction. It is most effective as contrasted to on-shore liquefaction. Further, a considerable amount of time and money spent on onshore/onsite construction and shipyard construction can be avoided. FSRU technology also addresses â€Å"NIMBY† issues, and it is less exposure to terrorism and conflict. Owners can achieve greater flexibility through the redeployment process. Further, FSRU offers shorter phase to markets than compared to on-shore regasification plants.All LNG carriers shall have double hulls. LNG is carried in near the atmospheric pressure in specifically built insulated tanks, which is being referred as the â€Å"cargo containment s ystem† located inside the inner hull. International codes stipulate the design and assembling of LNG ships. Additional and extra international safety guidelines are set out in the codes which differ with the type of cargo that carrier will carry. All commercial LNG vessels have to be registered with at least in one country known as â€Å"Flag State†.LNG Carriers must adhere to all specific international and local regulatory needs including those of Internationals Gas Carriers Code (IGC), the International Maritime Organisation (IMO) and US Coast Guard (USCG).All flag states implement the International Maritime Organisation Rules as regards to the International Safety Management Code(ISM), the IGC, and the global Convention on Standards of Training the certification and Watching. Further, a flag state in which LNG carrier is registered may impose further requirements in addition to the international codes. In the shipping industry, there exists a classification society w hich is a non-governmental organization (NGO) which acts as an integral part of the industry and is always cited as â€Å"Class†.