HJ Shipbuilding Secures LNG Bunkering Vessel Order
South Korea’s HJ Shipbuilding & Construction (HJSC) has announced its first order of the year for an 18,000 cbm liquefied natural gas (LNG) bunkering vessel. The contract, valued at KRW 127.1 billion (approximately $87.47 million), is with H-Line Shipping, a fellow South Korean shipping company. The new vessel, measuring 144 meters in length, 25.2 meters in width, and 12.8 meters in depth, is set to enhance the LNG bunkering capabilities in the region. The delivery date for the vessel has not yet been disclosed.
Innovative Features and Market Growth
The LNG bunkering vessel will feature a dual-fuel propulsion system, allowing it to operate on both eco-friendly LNG and marine diesel oil. This design aims to improve operational efficiency while minimizing environmental impact. The ship will also include two LNG tanks certified by the International Maritime Organization (IMO), ensuring compliance with global safety standards. HJSC emphasizes that the vessel’s ballast-free design will enable it to function without the need for ballast water inflow and outflow, further enhancing its eco-friendly profile.
LNG bunkering vessels, often referred to as “floating gas stations,” play a crucial role in the maritime industry’s shift towards carbon neutrality. As the demand for cleaner fuels rises, LNG is increasingly viewed as a vital component in achieving decarbonization goals. The market for LNG bunkering vessels is expected to grow significantly, driven by the anticipated expansion of oil and natural gas drilling. Recent forecasts predict that global LNG bunkering demand could soar from 400,000 tons in 2017 to as much as 53.2 million tons by 2040, reflecting a compound annual growth rate (CAGR) of 42.6% from 2025 to 2033.
Sang-cheol Yoo, CEO of HJSC, stated, “As global LNG demand and supply continue to grow, the LNG bunkering vessel market will see steady expansion.” He emphasized the company’s commitment to building eco-friendly, high-value-added ships, reinforcing HJSC’s legacy as a leader in shipbuilding. HJSC has a rich history in the LNG bunkering sector, having delivered the world’s first 5,100 cbm LNG bunkering ship to NYK Line in 2014 and the first universal 5,100 cbm bunker, Engie Zeebrugge, in 2017.
