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Argus Media: Korea unveils roadmap for net zero in shipping by 2050

Third area of focus under the roadmap is for South Korea to develop eco-friendly technology and expand infrastructure for future bunker fuels, according to Tng Yong Li.

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South Korea’s maritime ministry (Mof) has announced its strategy to decarbonise the shipping sector by 2050, with a focus on hastening the transition to what it terms as “eco-friendly” vessels.

The roadmap is a pre-emptive response to stricter decarbonisation regulations by the International Maritime Organization (IMO) and the international community, including Europe, Mof said on 14 February.

Mof expects the IMO in July to raise its international maritime carbon emission reduction target from 50pc to 100pc by 2050, in addition to more economic regulatory measures such as a carbon levy system. The 80th session of the Marine Environment Protection Committee will be held over 3-7 July, and is expected to adopt the revised IMO Strategy for Reduction of GHG Emissions from Ships, according to the IMO.

Mof sees “significant ripple effects” stemming from the tighter regulations on the shipping industry, since charging a certain amount for each tonne of carbon emitted will directly raise transportation costs for shipping firms. This will consequently make it “inevitable” for firms to switch to carbon-neutral fuels in order to stay competitive.

The Mof has consequently laid out its four-point strategy to achieve carbon neutrality in the shipping sector by 2050, in what it describes as a first in Asia.

Going green with support

The country will first convert ships owned by national shipping companies into ships that use eco-friendly fuels.

The roadmap has earmarked 867 outward-bound domestic vessels weighing 5,000 gross tonnes or more, which are subject to international regulations such as those set by the IMO, for conversion to eco-friendly ships. South Korea also aims to convert 118 eco-friendly ships by 2030, including the preferential conversion of 60pc of its liner service in Europe and the Americas, in response to the EU’s regional regulations and introduction of its own carbon levy system.

South Korea aims to eventually replace all outward-bound domestic vessels with 100pc eco-friendly ships by 2050.

When building new ships, South Korea is planning to have dual-fuel engines that can utilise eco-friendly fuels such as e-methanol and LNG by 2030, and also aims to promote ammonia and hydrogen vessels.

These goals are in line with the previous “2030 Green Ship-K Promotion Strategy” that South Korea outlined in December 2020. The 2030 plan aimed to convert 15pc of South Korean-flagged ships, or 528 vessels out of 3,542, into greener ones. The government and public corporations are also required to build green vessels when replacing their old vessels.

Upon the successful implementation of the 2030 strategy, Mof forecasts that greenhouse gas (GHG) emissions in 2050 will be at 5.93mn t or half of the 11.81mn t in 2017. In the nearer term, Mof sees its strategy reducing particulate matter by 3,314t and GHG emissions by 4mn t by around 2030.

Secondly, the government will also provide support to encourage timely investment in the transition to eco-friendly fleets. The cost increase for domestic shipping lines is estimated at about 1.8 trillion South Korean won ($1.38bn) by 2030, as construction expenses rise because of the installation of expensive engines and fuel tanks for conversion to eco-friendly fuel ships. 

This is up by about 31pc compared to the cost of constructing conventional ships. Support from the government, public institutions, and the financial sector will be expanded so shipping firms “do not hesitate” to invest in building or converting eco-friendly ships, Mof said.

Public funds worth up to W4.5 trillion will be raised to provide loans through the financial sector, in addition to interest rate cuts for loans when building and operating eco-friendly ships. Measures to stimulate private ship investment will be prepared by the end of this year, such as issuing green bonds to support financing for shipbuilding.

A new fund worth up to W1 trillion will also be established to support eco-friendly vessel conversion in small- and medium-sized shipping companies.

Making way for future fuels

The third area of focus under the roadmap is for South Korea to develop eco-friendly technology and expand infrastructure for future fuels.

South Korea’s trade and industry ministry (Motie) and Mof will jointly promote the development of technologies for eco-friendly vessels in a project over 2022-31, with an investment of W254bn. The two ministries will also study integrated biofuel technology over 2023-24 to secure future fuel production technologies for ships, and will also consider the expansion of floating carbon-free fuel infrastructure.

The country will also expand port facilities to prepare for fuels such as e-methanol, ammonia, and hydrogen. Legislation through the entire supply chain from production to storage to the sale and supply of bunker fuel will also be reviewed and improved.

Lastly, South Korea will establish carbon-free shipping routes and foster international co-operation. The country and the US launched a feasibility study in January to build a green shipping corridor between South Korea’s Busan and the US, according to Mof. Domestic shipowner Hyundai Merchant Marine recently ordered nine methanol-fuelled vessels, with potential plans to use the aforementioned shipping corridor.

Public and private sector investment in eco-friendly shipbuilding is expected to hit W8 trillion by 2030 and W71 trillion by 2050, according to Mof.

South Korea expects this transition to be “a new national growth engine in the era of carbon neutrality”, generating an economic value of W17 trillion by 2030, and W158 trillion by 2050.

By Tng Yong Li

 

Photo credit and source: Argus Media
Published: 23 February, 2023

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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