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Hyundai Heavy Industries’ (HHI) newly spun-off marine services company, Hyundai Global Services (HGS), has signed an MOU with Korean KSS Line for entering into eco-friendly ship business. The move comes in preparation for IMO‘s global sulphur cap.

Under the MOU, two companies j[ds_preview]oin forces to retrofit the medium-sized LPG carriers owned by KSS Line with Exhaust Gas Cleaning System. Ships equipped with the cleaning system will be able to meet the IMO’s sulfur emission cap of 0.5% even with bunker-c oil, cheaper than marine gas oil, and thus will significantly be able to lower fuel costs.

From this month, the two companies operate a task force team that is conducting basic engineering of the system, and is scheduled to finalize detail engineering by the end of this year. In the meantime, KSS Line will analyze fuel savings by making use of internal voyage data to be collected from the retrofitted ships, and to conduct feasibility study of the joint business.

It is forecast that more than 15,000 ships will have the system onboard and the global market to grow worth about 1 bn $ by 2020.

Moreover, HGS also set up strategic partnerships with Sweden-based Alfa Laval for retrofitting Ballast Water Treatment System on February 20 at its Busan headquarters.