Hyundai Heavy Industries (HHI) is currently preparing to enhance its efforts to lead the LNG-fueled ship market, while trying to comply with tougher global environmental regulations.
HHI wants to lead the eco-friendly ship market, by ordering numerous LNG carriers. Namely, Hyundai Mipo Dockyard won an order for a 50,000-ton LNG bulk carrier in 2016, while Hyundai Samho Heavy Industries will build six units of the world’s first LNG-powered VLCC.
Moreover, the company released an announced on December 17, stating that it held a technology briefing session regarding an LNG-fueled bulk carrier of its own development for nine Korean shipping companies, such as Korea Line, Polaris Shipping, H-Line Shipping and SK Shipping.
The new LNG-powered vessels will be designed as 180,000-ton and 250,000-ton class bulk carriers.
These features are in compliance with all of the IMO’s stricter environmental regulations, aiming to reduce sulfur oxides (SOx), nitrogen oxides (NOx) and carbon dioxides (CO2) up to 99%, 85%, and 25%, respectively, local media reported.
As a result, more and more operators want to use LNG-based facilities, which had been applied to some of existing LNG carriers, oil tankers, containerships and bulk carriers.
According to a recent SMM Maritime Industry Report, 44% of the total shipowners are considering to operate LNG-powered carriers when placing new orders.