Hyundai Global Service (HGS) has entered into a feasibility study with liquefied petroleum gas (LPG) transportation firm Dorian LPG to plan the upgrade of up to ten vessels in its VLGC fleet to use dual fuel technology.
The development was due to the anticipation of upcoming environmental regulations to reduce sulphur emissions, says John Hadjipateras, Chairman and CEO of Dorian LPG.
“The cargo transported by our vessels is an energy source with well-documented environmental benefits relative to other fuels,” he states.
“We are undertaking this initiative with the dual goals of acting as a responsible corporate citizen and potentially achieving a significant competitive advantage that will benefit both our customers and shareholders.”
This initiative follows the conclusion of a study announced in September 2017 by Dorian LPG and the American Bureau of Shipping (ABS) to evaluate the use of LPG as marine fuel in advance of the International Maritime Organization's (IMO) mandate to reduce sulphur emissions by 2020.
According to Dorian, LPG as a fuel source has a significant advantage over other potential sources, including LNG, methanol and marine gas oil given the abundant availability of LPG from the shale exploration boom and the existing global distribution network and onshore and floating storage infrastructure for LPG.
“We are pleased to be partnering with a first-class organization with whom we have a long-standing relationship,” says Ki Sun Chung and Kwang Hean An, Co-CEO & President of HGS.
“Both HGS and Dorian LPG are committed to the advancement of technology that provides the global shipping industry alternatives to achieve compliance with important environmental mandates.”
Photo credit: Dorian LPG
Published: 8 May, 2018
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