Korean Register (KR) has granted Approval in Principle (AIP) for a methanol-fuelled MR tanker, jointly developed by KR, South Korean shipbuilders - K Shipbuilding and equipment manufacturer - S&SYS at Nor-Shipping 2023 in Oslo, Norway on 6 June, 2023.
Joint Development Project
As part of the Joint Development Project (JDP) between the three companies, the MR tanker is designed as a dual-fuel vessel, harnessing the power of marine gas oil (MGO) and methanol.
The vessel incorporates two methanol fuel tanks positioned on the port and starboard sides of the open deck.
Design and fuel supply
KR ensured the safety and regulatory compliance of the design by thoroughly reviewing regulations
K Shipbuilding spearheaded the vessel's basic design and the methanol fuel tank design, while S&SYS undertook the development of the fuel supply system.
KR ensured the safety and regulatory compliance of the design by thoroughly reviewing national and international regulations, leading to the issuance of the AIP for the methanol-fuelled MR tanker.
Decarbonised alternative fuels
With an increasing focus on reducing greenhouse gas emissions in the maritime industry, the adoption of decarbonised alternative fuels has become imperative.
Initiatives like the EU's 'Fit for 55' package, targeting a minimum 55% reduction in greenhouse gas emissions by 2030, have underscored the urgency for shipping companies to explore viable solutions. Consequently, many major shipping companies have recently placed orders for methanol dual-fuel vessels.
Methanol
Methanol possesses significant advantages as a marine fuel. It is a liquid fuel similar to bunker fuel at room temperature, eliminating the need for pressurisation. Compared to extreme temperature fuels like LNG at -162 degrees Celsius, hydrogen at -253 degrees Celsius, and ammonia at -34 degrees Celsius, methanol is easier to store and transport.
Furthermore, it is considered a green fuel with strong potential for commercialisation in the maritime sector due to its technical feasibility, less toxic nature compared to ammonia, and lower technical requirements compared to LNG fuel.
Transition to greener solutions
The ‘Methanol Fueled MR Tanker’ joint development project stands as a testament to KR's dedication"
Lee Hyungchul, Chairman & CEO of Korean Register said, “KR remains committed to advancing decarbonised alternative fuel technologies, with a particular focus on providing technical support for decarbonisation efforts."
He adds, "The ‘Methanol Fueled MR Tanker’ joint development project stands as a testament to KR's dedication to driving the industry's transition towards greener solutions.”
Maritime decarbonisation
Jang Yoonkeun, CEO of K Shipbuilding said, “We are delighted to see that our years of hard work to develop green-fueled vessels has resulted in today’s AIP for the methanol-fueled MR tanker. We will further improve our technologies and pursue innovations to contribute to maritime decarbonisation.”
By granting AIP for the methanol-fueled MR tanker, KR reinforces its position as a classification society in championing sustainable and innovative maritime technologies that pave the way for a more environmentally conscious future.
