SEOUL, July 29 (Korea Bizwire) — Hyundai Mipo Dockyard Co. said Wednesday it will build a ship powered by electricity and other fuel with its own technologies by 2022 for the first time in the country to expand its presence in the ecoship market.
Hyundai Mipo signed a deal with a local government to build the ship propelled by fuel cells and liquefied natural gas (LNG) or fuel cells and diesel, according to the company.
The deal will help Hyundai Mipo commercialize technology to develop the dual fuel-propelled ships on its own, which has relied on foreign technologies.
The ship, which will be 89.2 meters long and 12.8 meters wide, will be able to carry up to 375 passengers and sail at a maximum speed of 16 knots.
Global market researcher IDtechEX expected the battery-powered ship market to grow US$12.4 billion in 2029 from $800 million in 2018.
Hyundai Mipo and its parent Korea Shipbuilding & Offshore Engineering Co. have been pushing ahead with its plan to develop eco-friendly ships.
In March 2019, Hyundai Heavy got the green light for the design of a crude carrier with the LNG-fuel cell-propelled engine system from DNV-GL, a Norwegian-German quality assurance and risk management company.