LR Grants Approval in Principle for HHI’s LNG-fueled VLOC
South Korean shipbuilder Hyundai Heavy Industries (HHI) has received approval in principle (AiP) from Lloyd’s Register (LR) for a 250,000-deadweight-ton (dwt) class very large ore carrier (VLOC) fueled by liquefied natural gas (LNG).
HHI, who has been focusing its efforts on LNG-fueled ships ahead of the International Maritime Organization’s (IMO) SOx emission limitations from 2020, set out on a joint development project (JDP) last year with LR, ship owner and operator ANANGEL and LNG supplier WOODSIDE to develop the LNG-fueled 250,000 dwt VLOC design optimized for the trade route from North West Australia to North Asia, based on the XDF engine. The JDP’s main objective is to achieve the lowest practical incremental capital and operating costs to help LNG as a fuel compete against other post-2020 compliance options for bulk carriers.
ANANGEL provided practical advice on the design concept, WOODSIDE provided information on the outlook for LNG bunkering infrastructure in the region and outlook for LNG against other fuels, and LR facilitated the hazard identification (HAZID) to identify the major hazards and verify the safety of the vessel design. HHI completed the optimized design of the VLOC with the LNG-fueled system, and LR provided class approval and issued AiP to HHI.
Recently all JDP members reviewed an in-depth economic evaluation of the LNG-fueled system against a wide range of ultra-low sulphur marine fuel oil prices to assess the competitiveness of LNG-fueled bulk carriers and exchange ideas on what could be done to help advance the use of LNG as a fuel. The preliminary results show promise for LNG as a fuel opportunities.
The parties are discussing the potential for a further phase of the JDP, including additional partners, to increase the feasibility and attractiveness of LNG as a fuel through new technologies, reduced capital cost and increased operating efficiency.
