SEOUL, June 7 (Korea Bizwire) — Hyundai Heavy Industries Group, the world’s biggest shipbuilder by sales, has joined hands with Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, to develop the world’s largest carbon dioxide carrier.
The two parties announced on Monday that they had signed a joint development project agreement for a 74,000-cubic meter CO2 carrier with G-Marine Service Co., the American Bureau of Shipping (ABS) and the Marshall Island Registry’s International Registries.
Under the terms of the agreement, the participants will develop a CO2 carrier by the second half of this year and verify the safety and suitability of the design on the basis of the international code for ships carrying liquefied gases required by the International Maritime Organization.
Korea Shipbuilding & Offshore Engineering Co. and Hyundai Heavy Industries Co., which both operate under the umbrella of Hyundai Heavy Industries Group, plan to upgrade the cargo containment system and cargo handling system on the basis of their experience in designing a 40,000-cubic meter CO2 carrier that was developed last year for the first time in the world.
In addition, they intend to maximize loading capacity by designing the ship with nine cylinder-type tanks, as well as developing ships with liquefied natural gas (LNG)-powered engines to better cope with environmental regulations.
Hyundai Glovis and G-Marine Service will provide information on marine transportation of liquefied CO2 and various details of ship operations.
Kevin Lee (firstname.lastname@example.org)