As the demand for dual-fuel LNG vessels continues to accelerate, the marine pump specialist Svanehøj is experiencing a significant increase in orders for deepwell fuel pumps. A large new order from Jiangsu New Yangzi Shipbuilding highlights the significant LNG pump potential in the ocean-going vessel segments.
Orders for dual-fuel LNG vessels broke all records in 2021 with a total of 240 ships globally. That is more than the previous four years combined. And growth looks set to continue unabated in 2022. According to data from classification society DNV, orders for 56 dual-fuel LNG vessels have been placed in January and February.
This change in demand has created quite a buzz at Svanehøj. The Danish marine pump specialist quadrupled sales of its patented deepwell fuel pumps in 2021, and there are many indications that sales may increase even further in 2022.
Svanehøj has just secured an order for fuel pump systems for 15 dual-fuel LNG container vessels(7,000 TEU), which are to be built at Jiangsu New Yangzi Shipbuilding. The total of 30 deepwell fuel pumps will be delivered from August 2022 to January 2024. The order is among Svanehøj's largest relating to LNG fuel to date. It is the second time within the last year that this customer has chosen Svanehøj as the supplier of LNG fuel pump systems. In July 2021, they signed a contract for deepwell pumps for 10 dual-fuel LNG container vessels(15,000 TEU).
To support the green transition of the maritime industry, Svanehøj is currently investing more than DKK 10 million in upgrading its production facilities in Denmark. A new factory layout with manufacturing cells and robotics will support Svanehøj's ambitious growth strategy and reduce lead times for all products.
Svanehøj has entered 2022 with a new strategy and a target of doubling its turnover to DKK 1 billion($152 million) by the end of 2026. In addition to fuel pumps for LNG, LPG, and carbon-neutral fuels, Svanehøj sees great potential in developing pump solutions for the infrastructure to be built around Power-to-X and carbon capture and storage(CCS).