South Korean major shipbuilder Hyundai Heavy Industries (HHI) announced that its newly spun-off company Hyundai Global Services (HGS), specializing in providing total marine services, has signed a MoU with compatriot shipping company KSS Line, for entering into eco-friendly ship business.
Under the MoU, the two companies will join forces to retrofit the medium-sized LPG carriers owned by KSS Line with scrubbers, in a bid to make the ships comply with IMO’s 2020 sulphur cap.
From this month, the two companies operate a task force team that is conducting basic engineering of the system, and is scheduled to finalize detail engineering by the end of this year.
In the meantime, KSS Line will analyze fuel savings by making use of internal voyage data to be collected from the retrofitted ships, and to conduct feasibility study of the joint business.
It is forecast that more than 15,000 ships will have the system onboard and the global market to grow worth about USD 1 billion by 2020, HHI said.
Moreover, on 20 February, HGS also set up strategic partnerships with Sweden-based Alfa Laval for retrofitting Ballast Water Treatment Systems at its Busan headquarters.