South Korean public natural gas company Korea Gas Corporation and Busan Port Corporation (BPC) Thursday signed a "Business Agreement for Establishment and Activation of the Busan Port LNG Bunkering System" at the headquarters of BPC.
The agreement sees both firms conducting a joint feasibility study on establishing a LNG bunkering business to supply LNG as marine fuel to vessels entering Busan port by the first half of next year.
The study will include a comprehensive review of building a Floating LNG Bunkering Terminal at Busan port.
“In particular, Pusan ??Port is the largest port in Korea and is close to Korea Gas Corporation's Tongyeong LNG base with six major ports (in terms of freight volume in '17) in the world, which is favourable for the development of the LNG bunkering business,” says KOGAS.
“In the future, if the domestic fleet of vessels is gradually converted to LNG, it is anticipated that it will be possible to reduce 2,500 tons of fine dust emitted by ship in 2030 by 20%
“Through this event, KOGAS hopes to establish more concrete measures to build and revitalize the LNG bunkering infrastructure of Pusan ??Port by establishing a cooperative relationship with Busan Port Corporation and LNG bunkering.”
The South Korean government is supporting the use of LNG as a marine fuel, and is positioning the development to ‘revitalise’ the country’s LNG-fuelled shipbuilding sector.
Related: KOGAS supports push for LNG bunkering
Related: South Korea to ‘revitalise’ LNG-fuelled shipbuilding sector
Photo credit: KOGAS
Published: 6 July, 2018
High and uncertain domestic LNG prices, lack of government support and uncertain rules among barriers.
The El Coquí will be bunkered from the Eagle LNG Partners shoreside fuel depot at JAXPORT.
Three major South Korean shipbuilders recorded 154 orders, and 68 were for newbuildings which can utilise either LNG or methanol as an alternative bunker fuel, reports Business Korea.
Scheduled to be operational by end-2020, the 7,500m3 vessel will enable FueLNG to be the first to provide ship-to-ship LNG bunkering services in Singapore.
The Estonia firm will be providing LNG marine fuel to newbuild sisterships Auto Energy and Auto Eco at Finland.
New vessels will be Princess Cruises' first ships to be dual-fuel powered, mainly by LNG.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
