Korea Line has ordered two small-scale 7,500m³ LNG carriers from Samsung Heavy Industries (SHI) for delivery in May and December 2019, to be deployed on domestic coastal trades.
Both vessels will be fitted with the South Korea-designed KC-1 containment system and chartered to state-owned utility Kogas.
Kogas has been developing the KC-1 membrane containment system for more than a decade, working with the country’s shipbuilders. South Korea’s shipbuilders resent paying royalty fees to GTT and worked together to develop KC-1 to transfer technology but also to cut their shipbuilding costs.
The two small-scale carriers are only the third and fourth ships booked with KC-1 containment systems. SHI is building two 174,000m³ LNG carriers fitted with KC-1 technology for South Korea’s SK Shipping.
KC LNG Tech made a prominent showing at this month’s Gastech show in Tokyo, Japan.
The government-backed order aims to shore up the country’s cash-strapped shipyards, promote the containment system as a rival to those produced by France-based GTT and to support coastal LNG deliveries to South Korea’s islands.
Neither the shipowner nor the shipbuilder has disclosed the value of the deal. The first vessel will deliver small-scale shipments of LNG Jeju island for a 20-year contract and the second will supply LNG as marine fuel.
Click on this link to read all our coverage from this year’s Gastech show in Tokyo.