LNG

Nov 16 (LNGJ) - The South Korean government said it planned to encourage its shipyards to build more vessels to use LNG as fuel and to back the infrastructure needed for cleaner fuel in the shipping and trucking industries. The government said it would also offer tax incentives to make sure that South Korea had at least 20 vessels fueled by LNG by 2025. “To ensure enough infrastructure, the government will also gradually provide bunkering facilities in the five major ports in Korea,” it said. The largest Korean port, Busan, is developing the first bunkering system for shipping through private investments amounting to over US$500 million.