Rolls Royce ship engine gets thumbs up in US

Rolls Royce said US regulators had given it the go-ahead to market a marine engine designed to reduce fuel consumption and emissions from ships.

The engineering giant said the Certificate of Conformity bestowed by the Environmental Protection Agency would give it a head-start in the US market.

The engines are already in operation on car ferries and coastal ferries in Europe, and are being installed on the world's first gas powered tugs to be used in operation for Norwegian oil company Statoil.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

President Neil Gulliver said the certificate was good news for the US marine industry because liquid natural gas as a vessel fuel was indisputably the best long-term solution for ship owners.

"Our innovative vessel designsand gas-based power and propulsion systems help ship owners reduce through life costs and improve operational efficiency,while dramatically reducing harmful emissions and meeting strident future international environmental regulations," he said.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.