South Korean shipbuilders develop LNG carriers

“LNG has been used as a fuel only for small ships such as ferries, but our newly developed LNG engine and propulsion system can be used for large ships with capacities of more than 10,000 TEU (twenty-foot equivalent unit),” said Lee Yeong-man, head of the Okpo shipyard of Daewoo Shipbuilding. He also stated the company began research on this “greenship” technology three years ago to respond to regulatory measures to reduce sea pollution.

“Large shipping companies are interested in our system because the price of LNG is half that of bunker C oil. We believe we can take orders for the construction of ships equipped with the eco-friendly propulsion system within this year,” said Daewoo’s executive to Seoul-based newspaper Dong-A Ilbo.

On the other hand, Hyundai’s carriers will be delivered in the second half of 2013. They will feature the Dual Fuel Diesel Engine System, which allows the ship to run on oil fuel or liquefied natural gas, reported the shipbuilder through a press release.

Due to tightening global regulations on carbon emissions, increasing demand for LNG as an alternative energy source after Japanese nuclear crisis, and price competitiveness of natural gas in comparison with oil prices, Hyundai Heavy Industries expects to see more LNG carrier orders in the future.