Daewoo Shipbuilding & Marine Engineering (DSME) of South Korea announced that it has developed its own LNG containment system, named DSC16 (DSME Cargo Containment System 16), on Wednesday.
In its statement, DSME said the Korean shipbuilders had to rely on foreign technology, paying KRW 12 billion (approx. US$ 10.3 million) for the containment system per ship. Korean shipbuilders mostly used the technology developed by the French LNG containment specialist GTT.
DSME claims the newly developed containment system has an advantage over the existing technology in quality and stability.
The shipbuilder has already secured general approvals for the design of its DSC16 LNG containment system from a number of classification societies.
The containment system also meets the International Maritime Organization and International Gas Code requirements. Currently, it is awaiting approval from the United States Coast Guard.
The company hinted that Shell could be the major customer of the LNG containment system.