Sunday, May 28, 2023
HomeHeadlinesKorean, Chinese, Japanese Shipbuilders Racing to Develop Ammonia-powered Vessels

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Korean, Chinese, Japanese Shipbuilders Racing to Develop Ammonia-powered Vessels

Competition is heating up among shipbuilders in Korea, China, and Japan to develop ammonia-powered ships amid growing demand for eco-friendly vessels. Ammonia is an eco-friendly fuel.

Korea is ahead of China in ammonia vessel technology, but Chinese shipbuilders are chasing their Korean rivals.

Recently, a group of Chinese companies have jointly developed an ammonia fuel-based VLCC design and received approval in principle (AIP) from the Chinese Ship Classification Association and the American Bureau of Shipping.

The companies were the Marine Design & Research Institute of China, which is affiliated with the China State Shipbuilding Corp. (CSSC); COSCO Shipping Heavy Industry (CSHI), which is the shipbuilding arm of COSCO Shipping, China’s largest shipping company; and COSCO Shipping Energy Transportation Co., an affiliate of COSCO Shipping.

The design is for a 310,000-DWT VLCC loaded with a main ammonia fuel engine with two C-type ammonia fuel tanks made by MAN Energy Solutions. The dual fuel engine can be replaced with a pure ammonia engine in the future.

Hyundai Heavy Industries acquired AIP for an ammonia-fueled ammonia gas carrier from Bureau Veritas of France in September. It also acquired the industry’s first AIP for an ammonia fuel supply system from the Korea Register of Shipping (KR) in the same month.

In August, Samsung Heavy Industries received AIP for an ammonia-ready VLCC from Norwegian ship classification agency DNV. Ammonia-ready ships mean ships that are powered by liquefied natural gas (LNG) or diesel but can be fueled by ammonia as well. They are in the pre-pure ammonia ship stage.

Recently, Japan has also joined the competition. In October, Nippon Shipyard (NSY) announced a plan to develop ammonia-powered ships. It plans to develop ammonia-powered home-waters liners by 2024 and large ammonia-powered carriers by 2026.

The International Maritime Organization (IMO) has decided to reduce ship greenhouse gas emissions by 40 percent and 50 percent, respectively, by 2030 and 2050. The proportion of ammonia ships is expected to reach 20 percent of all vessels in 2050.

Korea has begun to secure ammonia ship technology, with the government taking the lead. It is focusing on the development of ammonia engines, fuel tanks, and fuel supply systems. The Ministry of Trade, Industry and Energy and the Ministry of Oceans and Fisheries will invest a total of 254 billion won for 10 years from 2022 to 2031 to develop technologies related to the entire cycle of eco-friendly ships. By the end of 2021, they will map out a detailed implementation plan.

Source: Business Korea

Related Posts

Video

Finance & Economy
Shipping News
Ports

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Dorian LPG sees Q1 revenue more than double year-on-year

Dorian LPG reported its financial results for the three months and fiscal year ended March 31, 2023. Highlights for the Fourth Quarter Ended March 31, 2023 Revenues of $133.6 million.Time...

Navios Holdings Posts $14.5 Mln Net Income in Q1

Navios Maritime Holdings Inc., reported its financial results for the first quarter ended March 31, 2023. Navios Holdings owns (i) a controlling equity stake...

BW LPG posts ‘strongest quarterly performance on record’

BW LPG has recorded its ‘strongest quarterly performance on record’ in the first three months of 2023. The company was boosted by strong exports...

ONE, Wan Hai agree to pay civil penalties to FMC

Ocean Network Express (ONE) will pay a US$1.7 million civil penalty to avoid a formal investigation by the US Federal Maritime Commission (FMC) for...

Nikolaus H. Schües elected BIMCO President

BIMCO has elected Nikolaus H. Schües , CEO and owner of Reederei F. Laeisz,...

Baltic Dry Bulk Index Ends Worst Day In Over Three Months

The Baltic Exchange’s main sea freight index declined the most since mid-February on Thursday...

Maritime UK appoints new Chief Executive Officer

Maritime UK, the umbrella organisation for the UK’s maritime sector, has appointed Chris Shirling-Rooke...

Baltic dry bulk index extends slide for 10th straight session

The Baltic Exchange’s main sea freight index of shipping rates for dry bulk commodities...

Baltic index hits over two-month trough on lower rates across vessels

The Baltic Exchange’s main sea freight index slumped to its lowest level in over...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...