Order Placed for Largest Ever LNG-Fuelled Bulk Carrier

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50 000 DWT bulk carrier with ILSHIN Logistics. This will be the largest bulk carrier ever ordered to use LNG as fuel. The project is a collaboration between steelmaker POSCO and ILSHIN Logistics to develop a new generation of ships for greener shipping.

The ship, which is expected to be delivered in 4Q17, will transport limestone cargoes in the Korean coastal trade for POSCO. Lloyd’s Register (LR) and the Korean Register (KR) will provide dual classification and certification, verifying compliance with the International Gas Fuel (IGF) Code.

The new type of cryogenic steel developed by POSCO is high in manganese and will be used for the 500 m3 capacity Type C LNG fuel tank, located on the aft mooring deck. The steel and its welding consumables have already received approval from LR and other classification societies. The steel is expected to help reduce capital costs in LNG-fuelled and LNG carrier systems.

Chang-hyun Yoon, EVP of HMD Initial Planning Division, said: “We should not hesitate to adopt new technologies and materials as we strive for a greener shipbuilding and shipping industry. The world’s first application of high-manganese steel for an LNG storage tank is a challenge but I believe that the material expertise of POSCO and the engineering capability of HMD will offer the right solution to the shipowner. Additionally, the technology evolution represented by this project paves the way for small scale LNG carrier designs incorporating high manganese steel Type C cargo tanks at a competitive price.”

Jin-Tae Lee, LR’s Korea Chief Representative & Marine Manager, added: “The successful construction of this vessel will be a very good trigger to draw the LNG industry’s attention to the widespread adoption of high manganese steel in marine applications, for those who are hesitant to adopt LNG-fuelled systems due to high CAPEX. This contract is evidence that shipping can make progress to address cost challenges as well as provide technical solutions in tough markets – and doing so without compromising both safety and performance.”

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