With local shipyards and other
organizations, South Korea’s Ministry of Oceans and Fisheries has announced a
pilot program to build a class of 180,000 ton LNG-driven vessel. It did not
tell anymore details.
“This pilot program is aimed at building
the world’s largest LNG-propelled ship, which is expected to pave the way for
related industries to take root in the nation,” said Kang Joon-suk, the Vice
“We will expand support for LNG-powered
vessels to help benefit the nation’s overall marine industry,” he said.
On Tuesday, South Korea’s top steelmaker
POSCO, along with state-run Korea Gas Corporation, and the Korea Development
Bank, were expected to sign an agreement with the Ministry of Oceans and
Fisheries launching the pilot program.
international emission regulations which aim at going green have pushed many
nations to go in for LNG-powered vessels since LNG is considered an
eco-friendly substitute for compliance with the regulations; however, high cost
has been a real challenge for the industry.
The ministry said
it is pushing to help local shipyards raise their market share in building
LNG-fueled ships. Currently, local shipyards win 60 percent of global orders to
build LNG-powered ships, and the government wants to raise it to 70 percent by