Classification society DNV GL and South Korea’s Hyundai Heavy Industries Group have partnered to develop future-proof tanker designs as part of a memorandum of understanding signed in 2019
HHI Group has introduced a range of eco-friendly ships equipped with alternative fuel technologies and energy-reducing systems, among them 40 LNG dual-fuel ships already delivered or under construction. Chief operating officer Seong-Yong Park said HHI’s offering will benefit shipowners seeking to develop their future strategy for ship operations and fleet renewal in the new marketplace.
The industry will see new regulation covering greenhouse gas emissions from vessels, including the introduction of the design index for existing vessels (EEXI) and a new Carbon Intensity Indicator, which are due to enter into force in 2023.
Korea Shipbuilding & Offshore Engineering (KSOE) head of the future ship research department H J Shin said KSOE would help the shipping industry meet IMO’s decarbonisation goals for 2050 “by taking a leading position in the eco-friendly maritime era through research and development.” KSOE is part of the HHI Group.
HHI said applying DNV GL’s data-based carbon robust model to its very large crude carrier (VLCC) and medium range (MR) tanker ships has found that an LNG fuel propulsion system in combination with advanced energy saving devices (ESDs) can enable a vessel to meet the new Carbon Intensity Indicator over its expected lifetime.
Head of Hyundai Mipo Dockyard’s initial design department Y H Chung stressed the importance of early adoption of LNG. Mr Chung said “Our joint research has shown that LNG as ship fuel combined with other energy saving devices can make a vessel both environmentally and economically fit for the next two decades at least.”
ESDs have a significant impact on fuel consumption during sailing and the benefits are expected to be greater for large vessels such as VLCCs, which spend longer periods operating at sea.
DNV GL business development manager Christos Chryssakis said “These ships are also less sensitive to price variations when it comes to selecting LNG as fuel. This is because the capital expenditure is paid back faster due to a higher fuel consumption.”
“For smaller vessels with lower fuel consumption such as MR tankers, a higher price differential between very low sulphur oil and LNG was required to pay back the initial investment. Therefore, these vessels were more sensitive to volatile fuel prices”
While there exists no clear cut vision of a zero-carbon ship in deepsea shipping at present, DNV GL Maritime senior vice president business development Trond Hodne said the industry needs to make newbuilding decisions today.
“Thus, we should not make perfect the enemy of good. As demonstrated by HHI Group and our experts, we have energy efficient designs and technologies at hand that will enable ships to meet the IMO emissions trajectories through their lifetime. These highly efficient vessels are likely to be attractive to charterers and investors today, and even more so if a price is put on CO2.”
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