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October 2011 www.sname.org/sname/mt operational expenditures (OPEX) of Triality compared to the baseline VLCC has been made. Additional CAPEX on the order of $30 million is needed for the additional steel for the hull, the LNG tanks and systems, additional cost for engines and boiler, and cost for the VOC systems and tanks, as well as the cooling sys- tems. Capital savings of some $10 million are achieved from reduced coating cost in the void spaces, and from saving cost for a SO X scrubber system and water ballast treatment system, which the baseline VLCC must have installed to satisfy the environmental regulations. On the OPEX side, the compari- son has been made only for the fuel cost as this is the most signicant. Other variable voyage costs will not be identical, but the dierence will likely be relatively small between Triality and the baseline VLCC. e relative development of prices for LNG and HFO has been forecasted by the U.S. Energy Information Administration. This forecast has slower growth in the price of LNG compared to the price of crude oil, and thereby also HFO and MDO. e starting point for the fuel price has been taken as the present price of HFO and MDO. For LNG, a price of $12 per MMbtu for LNG delivered to Triality has been chosen. is price is much higher than the spot price in todays market and also higher than the long-term contract in place now. However, the relatively high LNG price has been selected to allow for cost from bringing LNG from a ter- minal to the ship. By combining the CAPEX and OPEX estimates, a net present value comparison for a 20-year operation has been made with an 8% discount rate. e comparison shows that that the accumulated economic effect on net present value before tax compared to the conventional VLCC run on HFO is $20 million. Even with relatively large uncertainties in some of the cost estimates, the calculations demonstrate that Triality has the potential to be economically supe- rior to the baseline VLCC over the lifetime of the ship. Scaleable concept e Triality program demonstrates an innovative crude oil tanker concept that satises the environ- mental regulations beyond 2020 in an economic manner. e Triality concept VLCC can operate like any other VLCC in todays market. Innovations based on existing and well-proved technology result in a T I J Q U I B U E P F T O P U S F R V J S F X B U F S C B M -last, reduces emissions of SO X, NOX, and particulate matter to below the upcoming MARPOL Annex VI S F R V J S F N F O U T B O E F M J N J O B U F T 7 0 $ emissions during voyage. Triality may be a concept ship, but all of the suggested technolo- gies are known and proved. e next phase of the concept development will be for a shipyard, designer, charterer, or owner to prepare a detailed design, and for an owner and a terminal operator to evalu- ate the operational performance. This concept is scaleable and can be applied for a Suezmax or an Aframax with some limitations on the ballast-free idea. MTTorill G. Osberg is a principal engineer with DNV in the DNV Cargo Handling and Piping Systems section. Jan Koren is business direc- tor, tankers, with DNV Oslo. Tony Teo is business development director with DNV North America. With a beam of some 70 m, Trialitys hull is approximately 10 m wider than the baseline VLCC design.