Marine cryogenic pumps for LNG Engines: A strategic Marketing model

Liquefied Natural Gas (LNG) plays a crucial role in various industrial sectors, and it is becoming increasingly important in the energy transition towards a more sustainable economy. Its combustion produces lower emissions of greenhouse gases and pollutants compared to conventional fossil fuels, additionally, LNG offers flexibility and versatility in supply and transportation, particularly in the maritime sector. LNG is a cryogenic liquid (-162°C) composed mainly of methane and is favored because emissions of atmospheric pollutants such as sulfur oxides, nitrogen oxides, and particulates are significantly lower compared to traditional marine engines that burn fuel oil or marine diesel oil. Consequently, LNG-fueled ships are gaining popularity due to their environmental and economic benefits. In this context the importance of cryogenic pumps is emphasized, these pumps are designed to operate at extremely low temperatures and are essential for handling LNG on board these vessels. This thesis is conducted in collaboration with Vanzetti Engineering (VE), a company specialized in the design and production of cryogenic pumps and a global leader in the supply of equipment for gas fuel systems in the marine sector. In this field, VE designs, develops, and manufactures low-pressure centrifugal pumps submerged in the tank and high-pressure piston pumps that feed the engines, typically dual-fuel, either in series or individually, depending on the power plant technology. The primary objective of this work is to create a marketing model for cryogenic pumps by combining VE’s technical expertise and references with data provided by Clarksons Research, a global leader in the supply of data, intelligence, and insights on all aspects of the maritime and trade sectors. Starting from an indepth analysis of the LNG engine technologies adopted by the main manufacturers, it was possible to estimate the number and size of pumps necessary to fuel the various engines. These estimates were validated based on information from projects historically developed by VE, covering most ship segments. Using the Clarksons database on the current fleet and growth trends in the Clarksons outlook at the ’ship level,’ a model was created to provide a detailed overview of the current market segmentation at the ’pump level’. This model offers a strategic vision of the future potential market for VE’s cryogenic pumps, identifying which future segments to invest in and verifying the saturation of production capacity. Finally, a digital interface with Power BI, a business intelligence system used by VE, was developed to perform advanced data analysis and visualization, thereby improving decision-making capabilities based on these insights.