South Korea’s K Shipbuilding (KSB) has secured a newbuild contract from Greek maritime company Lastco for the construction of two alternative-fuel-ready product tankers, with an option for two more. This move reflects both companies’ commitment to cleaner shipping technologies and future-proof fleet investments.
According to Greek shipbroker Intermodal, the two vessels will each be 50,000 deadweight tons (dwt) and come LNG- and methanol-ready, enabling them to operate on cleaner fuels in the future. The agreement also includes an option for an additional two ships, which could bring the total order to four.
Each unit is expected to cost around $50 million, bringing the initial order’s total value to approximately $100 million. Delivery of the vessels is scheduled for 2027.
Fleet Renewal for a Greener Future
The deal is part of Lastco’s broader fleet renewal strategy, driven by increasingly strict environmental regulations, particularly those from the International Maritime Organization (IMO), including the Net Zero Framework (NFZ). Lastco currently operates a fleet of around 32 vessels, totaling 2.9 million dwt, including LR2 tankers, MR tankers, VLGCs (Very Large Gas Carriers), and VLCCs (Very Large Crude Carriers).
The new tankers’ dual fuel readiness positions them as key assets in Lastco’s long-term plan to cut emissions and align with global decarbonization goals. With the ability to convert to LNG or green methanol, these vessels could significantly reduce greenhouse gas (GHG) emissions compared to conventional marine fuels.
Clean Fuel Momentum
LNG has been widely adopted across the maritime sector due to its ability to cut GHG emissions by up to 23%, while green methanol—derived from renewable sources—can cut emissions by over 70%. As a result, methanol has emerged as a fast-growing contender in the alternative fuels market.
According to data from DNV’s Alternative Fuels Insight (AFI) platform, LNG remains the most ordered alternative marine fuel in 2024 and 2025. In the first half of 2025 alone, 151 LNG-fueled ships were ordered, while methanol followed closely with 40 newbuilds across tankers, car carriers, container ships, and offshore segments—totaling 4.6 million gross tonnes (GT).
A Strategic Partnership
For K Shipbuilding, this contract adds to a growing portfolio of eco-friendly newbuilds and reinforces its competitiveness in the alternative-fuel vessel segment. The yard has increasingly focused on tankers, gas carriers, and other ship types designed to meet the future fuel demands of the maritime industry.
As the shipping industry races to reduce carbon footprints and comply with tightening international standards, orders like this showcase a shift from conventional design to long-term, sustainable thinking.
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Source: Offshore Energy
