Korea LNG Bunkering Co, a Korean LNG bunkering joint venture led by KOGAS, has reportedly ordered a 7,500 cubic meter (cbm) liquified natural gas (LNG) bunker tanker from Hyundai Heavy Industries.
The project is partly funded by a KRW 15 billion won (USD 13.4 million) subsidy under the Korean Ministry of Trade, Industry and Energy’s ‘LNG Bunkering Ship Construction Support Project’. The vessel is expected to enter into service by 2023.
“This year, we plan to start STS-type LNG bunkering with SM JEJU LNG 2, Asia’s first LNG bunkering vessel, as well as expand the supply of LNG through Korea’s first purpose-built bunkering ship from 2023,” said a Korea LNG Bunkering Co representative, as quoted by Korean publication E2NEWS.
In addition, he added, “If the LNG bunkering business is activated in the future, it will greatly contribute to the improvement of the domestic marine atmosphere and the development of the domestic shipbuilding industry due to the increase in orders for LNG propulsion vessels.
Related: South Korea: Ministries unveil initiative to advance green tech for shipping & marine fuel
Related: Naming ceremony held for South Korea’s first LNG-powered bulk carriers
Photo credit: Aymane Jdidi
Published: 8 April, 2021
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
Maritime sector may find it increasingly challenging to manage bunker prices, Dennis Ho, Managing Director at ElbOil Singapore tells Singapore bunkering publication Manifold Times.
NBF mulls use of blockchain-based registry of trade finance transactions as secure central database for the banking industry to streamline documentation processes and resolve transparency issues.