The Korean Ministry of Oceans and Fisheries on Thursday (7 March) announced its policy plan for 2019, stating several maritime IMO 2020 related developments.
“In order to preoccupy the rapidly growing global eco-friendly shipping market in accordance with the strengthening of international environmental regulation, we will strengthen related policies such as support for the introduction of liquefied natural gas (LNG),” notes the organisation.
It will implement a 2.8 billion won (US $250 million) pilot project to convert liquefied natural gas (LNG) carriers owned by local private enterprises to use LNG as a marine fuel through Korea Ocean Business Corp (KOBC) finance plans.
A further plan to provide subsidy of 10% for shipowners planning to upgrade vessels to use LNG as a bunker fuel or other environmentally friendly features at Korean shipyards will also be launched.
“This year, we will concentrate our efforts on improving the constitution of the marine fisheries industry, such as innovation and shipping reconstruction, as well as preparing a comprehensive response system for port dust and marine plastic waste,” concludes Minister of Maritime Affairs and Fisheries, Kim Young-chun.
Related: KOGAS signals intent to improve LNG bunkering capacity
Related: KOGAS and Busan Port enter LNG bunkering study
Related: KOGAS supports push for LNG bunkering
Related: South Korea to ‘revitalise’ LNG-fuelled shipbuilding sector
Photo credit: Ministry of Oceans and Fisheries
Published: 11 March, 2019
The Spanish natural gas firm was present at a smart ports event organised by the port of Malaga.
The 12,000 m3 capacity vessel will provide LNG as marine fuel to vessels at Singapore port from 2021.
Avenir Accolade is a dual fuel vessel that runs on both diesel and LNG; it also functions as an LNG carrier and was built at Keppel Nantong Shipyard in China.
Operation is the first bunker delivery to the world’s largest LNG powered bulk carrier HL Green by Peninsula’s newly launched LNG bunker business, it said.
‘Being the first vessel of its kind built and owned by Chinese companies, makes this an important and exciting project.’
‘We are proud to put the world's first LNG vehicle transporter of this size into service. This is an important part of our decarbonization strategy,’ says spokesman.
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
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.
