As per the latest report published in the PRNewswire, the ship owner Dorian LPG is upgrading some of its VLGCs. As many as 10 VLGC vessels are scheduled to be converted to dual fuel technology utilizing liquefied petroleum gas (LPG) operating vessels, by the marine service provider Hyundai Global Service Co., Ltd (HGS), says the report.
An MoU signed between the 2 companies, entrusts Hyundai for the job of research and preliminary engineering studies for the project.
Viability of the project
Ki Sun Chung and Kwang Hean An, Co-CEO & President of HGS, added, “We are pleased to be partnering with a first-class organization with whom we have a long-standing relationship. Both HGS and Dorian LPG are committed to the advancement of technology that provides the global shipping industry alternatives to achieve compliance with important environmental mandates.”
The initiative follows the conclusion of a study announced in September 2017 by Dorian LPG and the American Bureau of Shipping (ABS) to evaluate the use of LPG as marine fuel before the International Maritime Organization’s (IMO) mandate to reduce sulfur emissions by approximately 85 percent effective January 1, 2020.
Dorian LPG said it believes in the viability of LPG as an attractive and cost-effective alternative fuel that is widely available and inherently compliant with the IMO mandate. As part of its recent new building program, the company proactively included enhancements to its VLGC vessels design to allow for the LPG fuel option.
“The cargo transported by our vessels is an energy source with well-documented environmental benefits relative to other fuels,” said John Hadjipateras, Chairman and Chief Executive Officer of Dorian LPG. “We are undertaking this initiative with the dual goals of acting as a responsible corporate citizen and potentially achieving a significant competitive advantage that will benefit both our customers and shareholders.”
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Dorian LPG
