Hyundai Mipo Dockyard Co., a unit of Korea Shipbuilding, has been given the green light for its ammonia-propelled ships from Lloyd’s Register. Hyundai Mipo Dockyard intends to commercialize the ammonia-propelled ships by 2025 in cooperation with global engine maker MAN Energy Solutions and Lloyd’s Register.
Ammonia has been attracting attention in the shipbuilding industry as an eco-friendly fuel for ships that does not emit carbon dioxide when it is burned.
The International Maritime Organization (IMO) has adopted mandatory steps under which carriers are required to operate a fleet of vessels designed to cut emissions of carbon dioxide by more than 30% by 2025 compared with 2008.
The IMO is also considering further reducing emission levels by 40% by 2030 and 70 percent by 2050.
From 1 Jan. 2020, the IMO lowered the sulfur cap on fuel content from 3.5% to 0.5%.
Korea Shipbuilding & Offshore Engineering Co.,Ltd., newly formed from Hyundai Heavy Industries Co., is the subholding firm of Hyundai Heavy Industries Holdings Co. and has three shipbuilders—Hyundai Heavy, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries Co.
Korea Shipbuilding and Hyundai Heavy set up a center in March in Ulsan to develop ships powered by both liquefied natural gas (LNG) engines and fuel cells by late 2021.