South Korean LNG engineering company Gas Entec signed a memorandum of understanding with SEoIL Agency to build a 155,000 cubic feet LNG-fueled reefer carrier.
The two companies agreed to construct, invest, charter and operate the vessel that will operate on an SEoIL Agency’s existing route from the fourth quarter of 2018.
Gas Entec said it will lead the investment and financing for the construction of the LNG-fueled reefer carrier and will lead the entire newbuilding project, including the selection of shipyards and supply of engineering design service and major equipment.
SEoIL Agency is responsible for long-term charter contracts and operations as a shipping company, according to Gas Entec’s statement.
The company further added that it will jointly develop the LNG refrigerant system for, what it claims to be the world’s first LNG-fueled reefer carrier, together with Dongwha Entec and agreed to apply the cycle and generator as a dual fuel engine in cooperation with Wartsila.