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South Korea supports LNG bunkering ship project

South Korea supports LNG bunkering ship project

South Korea announced that it will support a shipbuilder building a LNG bunkering ship with 15 billion won (US$ 12.4 million.)

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The country aims to finance the business building of the bunkering ship financially by paying about 30% of the total cost. The ship, to be completed by 2022, will have a capacity of about 7,500 cubic meters of LNG that far exceeds a truck's average of 30 cubic meters of LNG.

The country currently uses LNG's truck-to-ship transfer system. However, according to the Ministry of Trade , Industry and Energy, increasing demand for the renewable energy source in the maritime industry has made the construction of a bunkering ship necessary.

The move also came when the International Maritime Organization (IMO) recently began implementing tougher maritime industry environmental guidelines, inducing ships to use clean fuel, such as low-sulfur fuel oil, marine gas oil and LNG.

Maritime Business World 

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