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News / Business/ HHI, POSCO sources local materials to build LNG bunker fuel tanks

HHI, POSCO sources local materials to build LNG bunker fuel tanks

30 Sep 2019
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Ulsan-based shipyard Hyundai Heavy Industries (HHI) and Pohang-based steel-making firm POSCO on Thursday (26 September) said they intend to build future liquefied natural gas (LNG) bunker tanks from locally sourced materials.

To date, HHI has received 9% nickel steel from overseas steel companies; however, the shipyard has recently entered an agreement with POSCO to use the similar steel grade to construct LNG bunker tanks for a 180,000 dwt vessel.

The 180,000 dwt LNG-propelled bulk carrier will be delivered to ship owner H-Line Shipping in November 2020.

“It is significant to localise the entire process from designing, supplying and manufacturing of LNG tanks,” said a HHI official.

A POSCO official said, “Steel companies are also striving to develop eco-friendly marine products in line with stricter environmental regulations.”

HHI similarly worked with POSCO to use locally produced ‘High Manganese Steel’ to construct LNG-propelled vessels built by Hyundai Mipo Dockyard last year, it said.

The 100th Maritime Safety Committee (MSC) at the International Maritime Organization (IMO) approved Interim guidelines for applying POSCO-developed high manganese austenitic steel to LNG storage and fuel tanks last year.

Related: MSC approves POSCO steel product for LNG fuel and storage tanks
Related: South Korea: POSCO starts S31254 steel production for scrubbers

Photo credit: Hyundai Heavy Industries
Published: 30 September, 2019


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