South Korea eyes the launch of a pilot program to build the world’s largest LNG-powered vessel, aiming to boost green shipping and develop associated industries, the country’s Ministry of Oceans and Fisheries announced on Monday.
Under the plan, the ministry will join forces with local shipyards, builders and state institutes, to develop a class of 180,000-ton LNG-fueled vessels, according to yonhap news.
In January, the government brought together local companies to develop the emerging marine transport sector to comply with the IMO’s 2020 sulphur limit. Similarly, the program aims ‘to pave the way for related industries to take root in the nation,’ the vice marine minister was quoted as saying.
The pilot program will be officially launched on Tuesday, with the signing of an agreement among POSCO, South Korea’s biggest steelmaker, the state-run Korea Gas Corporation, the Korea Development Bank and marine research institutes.