In a bid to reduce carbon emissions from shipping, Hyundai Steel has added a liquefied natural gas (LNG) fueled ship to its fleet of ships used for the overseas transport of raw materials.
On November 24, Hyundai Steel announced the launch of the eco-friendly ship HL Oceanic, constructed by the Mokpo-based shipbuilder Hyundai Samho Heavy Industries.
The HL Oceanic left for its first voyage and will transport 2 million tons of iron ore and coal annually between Korea and Australia.
The HL Oceanic is a 180,000-ton LNG-fueled ship that is 292m long and 45m wide with a deck height of 24.8m. Compared to the high-sulfur marine oil that is traditionally used to power ships, LNG has 99%, 90%, and 30% lower content of the representative air pollutants, sulfur oxide (SOx), nitrogen oxide (NOx), and carbon dioxide (CO₂) respectively and has over 30% of efficiency as a fuel, enabling eco-friendly and more energy-efficient shipping.
Strengthening of worldwide environmental protection regulations have led to a rising number of LNG ships, which have increased in number from 72 in 2014 to 103 in 2016, 145 in 2018, and 220 in 2021. Europe, China, Singapore, and other countries and regions are recognizing LNG ships as a future growth engine and are taking quick action to secure a foothold in related industries.
In March of next year, the Hyundai Steel family will also welcome HL Sunny, an eco-friendly sister ship of the HL Oceanic.
Hyundai Steel announced that the entire fleet of materials transport ships will be replaced with eco-friendly ships through working with shipping companies and shipbuilders. From March of next year, 31% of Hyundai Steel’s materials transport ships will be equipped with desulfurized devices, 15% will be replaced with LNG ships, and the remaining ships with be powered by low-sulfur fuel as the steelmaker moves to make its materials import a greener process.