DNV GL entered into a Joint Development Project (JDP) with Daehan Shipbuilding Co., Ltd. (DHSC) to develop small-size LPG carriers. Mr. Dae-Seong Jeong, DHSC President & CEO, and DNV GL’s Hwa Lyong Lee, Regional Business Development Manager Korea & Japan, signed the JDP in the DNV GL office in Busan.
With the agreement, DNV GL and Daehan Shipbuilding will jointly develop small-size LPG carriers. The JDP process will commence from early September 2020 and is scheduled to be completed by the end of December 2020.
Due to tightened emission regulations and a shale gas boom, the demand for LPG and LNG carriers is expected to increase. A hike in freight rates also stimulates the growth in LPG carrier orders. To keep pace with this industrial trend and seize opportunities, DHSC has decided to diversify its ship type lines and start to develop LPG carriers.
“DHSC already established its position as a reliable shipbuilder with the capability to build different ship types other than gas carriers. As the industry is changing rapidly, we are now strengthening our competitiveness by developing LPG carriers and show our technological competence to ship owners,” said Mr. Jeong of DHSC.
DNV GL will review the basic and detailed designs for the vessels in accordance with the relevant rules and regulations as well as provide technical advice and recommendations to help enhance the design development.
“For decades, DNV GL has led the way in the gas carrier segment, working in partnership with stakeholders to improve vessel performance. We are the most appropriate partner for DHSC’s new challenge, and we anticipate a fruitful result for both parties,” said Vidar Dolonen, DNV GL Regional Manager Korea & Japan.
About one fifth of the global gas carrier fleet is sailing with DNV GL class, totaling 18 million GT. To serve the growing demand for gas transport and storage, DNV GL recently established a Gas Carrier Excellence Center that is working closely with the industry to foster the development of new gas technologies by applying established rules and standards.