Alfa Laval maritime unit signs accord with South Korean shipyard K-Shipbuilding for OceanGlide product
Alfa Laval, the Swedish specialist company offering maritime equipment for heating, cooling and gas solutions and exhaust cleaning among many other pieces of equipment, has signed an accord with South Korean shipyard K-Shipbuilding (KSB) for Alfa Laval’s OceanGlide product.
South Korea LNG loan
June 1 (LNGJ) - The Korea Development Bank said it lent 480 billion Korean won ($388M) along with several other banks to the South Korean shipyard, Hyundai Heavy Industries, as part of its pro-environment “green loans” programme. The other banks involved included UK-based HSBC and ICBC, a KDB affiliate.
“Green loans usually are offered to finance eco-friendly projects, such as LNG carriers, renewable energies and high-efficient energies,” said a statement. Hyundai Heavy will use the funds from the loan to develop technologies for LNG carriers.
South Korea proceeds with consolidation of shipbuilding to compete in LNG and tankers
South Korea’s shipbuilding industry, the largest builder of LNG carriers, is advancing with plans for consolidation and an overhaul organized by state-run Korea Development Bank, with Hyundai Heavy Industries, the world's largest shipbuilder by sales, being offered the bank’s controlling stake in Daewoo Shipbuilding and Marine Engineering.
International commodities firm Trafigura boosts LNG trading book and forecasts buoyant 2019
Trafigura, the international commodities firm, said its delivered liquefied natural gas volumes rose by 22 percent in the past year as demand rose in both China and South Korea and it expected a bouyant 2019.
South Korea engages two research institutes to help with LNG bunkering build-out in ports
The South Korea government said it would develop advanced bunkering technology with two research institutes aimed at the liquefied natural gas maritime re-fueling market to increase the number of vessels the nation can supply in its ports.
German engine-maker supplies propulsion for first LNG-powered bulk carrier made in Korea
German marine engine maker MAN Diesel & Turbo has supplied the propulsion for the world’s first LNG-fueled bulk carrier delivered in South Korea to work on the Asian nation’s coastal trade.
The bulk carrier, the “Ilshin Green Iris”, has been delivered from the Hyundai Mipo Dockyard in Korea to its local owner Ilshin Logistics.
The 50,000 deadweight-ton bulk carrier is powered by a single MAN B&W 6G50 electronically-controlled, gas-injection (MEGI) two-stroke engine.
The ship and its propulsion have been classed by Lloyds Register and the Korean Register and in compliance with the International Gas Fuel (IGF) Code.
The “Ilshin Green Iris” has been chartered by South Korean steelmaker, POSCO, to transport limestone cargoes in the local Korean trade.
“We are very pleased to be part of this exciting project and to see our dual-fuel ME-GI engine win favour in yet another market segment,” said Bjarne Foldager, Vice President of Sales for the two-stroke business at MAN Diesel & Turbo.
“We look forward to following its progress,” he added.
The “Ilshin Green Iris” has a Type ‘C’ LNG fuel tank with a capacity of 500 cubic metres and comprised of a material – high-manganese austenitic steel – newly developed by POSCO that is specially designed for cryogenic LNG and liquefied gas-storage applications.
MAN said its successful MEGI engine has now accounted for more than 200 orders to be installed in LNG carriers, container vessels, and now bulk carriers.
“The ME-GI engine provides ship-owners and operators with a peerless solution within environmentally friendly and high-efficiency, two-stroke technology,” said the company.
“The negligible methane slip of the MEGI engine makes it the most environmentally friendly, two-stroke technology available,” added MAN.
The German engine and turbomachinery maker is also building a new test facility in South Korea in partnership with Hyundai Heavy Industries that will include improving LNG equipment and dual-fuel engines.
The test and gas facility will be located at the Port of Ulsan in South Korea at Hyundai’s Engine & Machinery Division (HHI-EMD) works and is scheduled to begin operation in early 2019.
“It will be the first test engine with online remote control, supporting MAN’s digitization strategy. In this respect, the test engine will also be connected to MAN's research and control centre in Copenhagen, enabling the company’s research engineers to closely follow and enhance the testing of future engine technologies,” said MAN.
MAN, which has operational facilities in Denmark, said the MAN-Hyundai venture will expand research and development test capacity as part of its strategy to improve dual-fuel gas engines using LNG and other traditional fuels.
The company has chosen Hyundai as its partner as it is among the leading global shipbuilders for LNG carriers and also has plans to construct a new wave of gas-powered vessels for container, cargo and energy companies to meet emission-control regulations.
