Hyundai Heavy Industries’ (HHI) subsidiary, marine services provider Hyundai Global Services (HGS), signed a Memorandum of Understanding (MOU) for eco-friendly ship business with Korean shipping company KSS Line.
Under the deal, the two companies said they would join forces to retrofit the medium-sized liquefied petroleum gas (LPG) carriers owned by KSS Line with exhaust gas cleaning system.
Ships equipped with the system will be able to meet the International Maritime Organization’s (IMO) sulfur emission cap of 0.5% even with bunker-c oil, cheaper than marine gas oil, and thus will be able to lower fuel costs, according to HHI.
A task force team, operated by the companies, will be conducting basic engineering of the system starting this month, while detail engineering is scheduled to be finalized by the end of 2017. HHI forecasts that more than 15,000 ships will have the system onboard by 2020.
Additionally, HGS also entered into a strategic partnership with Sweden-based Alfa Laval for retrofitting ballast water treatment systems.