Design and Cost Multi-Objective Optimization of Small-Scale LNG Carriers using the Value Engineering Approach

Abstract

Nowadays, liquefied natural gas (LNG) carriers are the main merchant fleets for the transport of natural gas for energy. The large LNG carrier has a more efficient freight cost (approximately 7.8 USD/MMBTU) than a small-scale LNG carrier (SSLNGC; approx. 12,8 USD/MMBTU). Another method must be introduced to make SSLNGCs more cost-efficient. As such, this work conducted an experiment to improve the design of SSLNGCs via design and cost optimization by combining a value engineering approach and multi-objective optimization to decrease hull resistance and lower construction material costs by adjusting the ship dimension ratio. By improving the conceptual design and using semi-integrated numerical simulations, the final result showed improvements in SSLNGCs by decreasing the hull shell area by 1.57% to reduce the construction material needed and total ship resistance by 8.3%