Less than a week after South Korea revealed plans to order two LNG-fueled bulk carriers by August 2018, the Ministry of Oceans and Fisheries announced that the country seeks to develop advanced bunkering technology for LNG-powered ships, in a bid to increase the number of eco-friendly vessels it can support, in line with the global strict environmental regulations.
In particular, the oceans ministry has launched the LNG bunkering project, in cooperation with state research institutes, including the Korea Research Institute of Ships & Ocean Engineering and the Korea Marine Equipment Research Institute, Yonhap news agency reported.
South Korea attempts to develop green marine transport, in order to comply with the IMO’s sulfur cap, coming into effect in 2020. In view of the stringent environmental rules, the number of LNG-fueled ships is expected to rise and this move is part of the government’s broader plan to foster the emerging sector expected to witness a rise in demand.
As LNG needs to be transferred at extreme low temperatures, the project namely aims to improve infrastructure and technology for LNG bunkering and establish bunkering facilities in major ports in Busan and Ulsan.
Although South Korean shipyards are global leaders in building LNG carriers, they are still in the early stages when it comes to LNG-fueled ships and related infrastructure, with only one LNG-propelled vessel currently operating in the country.
