Newport Shipping has won approval in principle from classification society DNV for a concept design to convert VLCCs and capesize bulkers to LNG fuel.

The ship repair group has its eye on the 20% of the fleet under 10 years old, which it says is most suitable for conversion.

Newport Shipping markets the technology as a potential solution to upcoming decarbonisation regulation, such as the Energy Efficiency Existing Ship Index and Carbon Intensity Indicator, which will become mandatory from 2023.