South Korea intends to launch a pilot project to build a 180,000 gross ton LNG-fueled vessel in an effort to reduce pollutants emitted from ships and promote environmentally friendly industries, the country’s Ministry of Oceans and Fisheries (MOF) informed.
The ministry said it will collaborate with Korean shipyards, private/public companies and financial institutions to develop the new class of LNG-powered ships.
In January, the South Korean government took a step forward in its efforts to make the domestic maritime sector compliant with the sulfur cap introduced by the International Maritime Organization (IMO).
On September 26, MOF, the Ministry of Trade, Industry and Energy, POSCO, Korea Gas Corporation, Korea Development Bank, Korea Shipowners’ Association, LNG Bunkering Industrial Association and a research institute will sign a deal to start with the pilot project.
“This pilot program to build the world’s largest LNG-powered ship is an opportunity to establish the domestic LNG shipbuilding industry,” Kang Joon-suk, Deputy Minister, MOF , said.
“ We will further strengthen support for LNG-powered vessels to contribute to the nation’s related industries,” he added.
The country is promoting related industries such as operating of LNG-fueled vessels and LNG bunkering as there is only one LNG-fueled vessel currently operating in South Korea, according to MOF.
World Maritime News Staff