HMD - Experts & Thought Leaders

Watson Farley & Williams (WFW) advised Navigazione Montanari S.p.A. (Navigazione Montanari) on acquiring the chemical product tanker, Astella, renamed Valderice. WFW also acted for Intesa Sanpaolo S.p.A. (Intesa Sanpaolo) as a lender on loan, backed by Italy’s ECA SACE's Garanzia Futuro, granted to Navigazione Montanari to recapitalise the funds used for the purchase partially. Valderice The Valderice, built in South Korea in 2011 at the Hyundai Mipo Dockyard Co. Ltd., is currently registered in the International Ship Register of the Trieste Maritime Department. Founded in 1889 and headquartered in Fano, Italy, Navigazione Montanari specialises in the transport of products for the oil and petrochemical sectors and counts among its clients the pioneering operators in these sectors. Advising team Intesa Sanpaolo is a major bank in Italy, with a strategic international presence spanning retail, corporate, and asset management. The WFW Maritime Italy team that advised Navigazione Montanari and Intesa Sanpaolo was led by Partner Furio Samela, assisted by Associate Sergio Napolitano and Senior Associate Antonella Barbarito on the acquisition and financing, respectively.

DNV has granted Approval in Principle (AiP) to HD Hyundai Mipo (HMD) for their design of a 60,000 m3 LPG/NH3/VCM carrier.  The design addresses the growing demand for Medium Gas Carrier (MGC) vessels and aligns with the industry trend towards larger ships. LPG and ammonia transport It also anticipates stricter environmental regulations and an expected rise in LPG and ammonia transport volumes. The vessel maintains the operational characteristics of existing MGCs while incorporating a double hull structure for enhanced collision stability. Additionally, the innovative trunk deck design increases cargo volume, thereby boosting carrying capacity. Large Gas Carrier (LGC) cargo capacity The vessel achieves superior fuel efficiency through optimised hull design compared to existing LGCs With specifications similar to those of MGCs but with Large Gas Carrier (LGC) cargo capacity, this vessel can access ports designed for MGCs, thereby improving operational efficiency. The vessel also achieves superior fuel efficiency through optimised hull design compared to existing LGCs, offering substantial CAPEX and OPEX advantages. Vessel design and operational efficiency Dong-Jin Lee, Head of Initial Design Division at HMD remarked, "This vessel design represents a new concept in ship design aimed at enhancing operational efficiency and meeting the evolving demands of the gas carrier market." Dong-Jin Lee adds, "In addition to our present 40K and 45K class MGCs, we can expand our portfolio by introducing a new 60K class MGC and we ensure that it will enhance our position in the market, as a pioneer in the MGC sector." Enhancing safety and compliance Vidar Dolonen, DNV Regional Manager Korea & Japan, said, "We are pleased to work closely with HMD, as they bring this advanced gas carrier design to life." Vidar Dolonen adds, "HMD’s commitment to pioneering new technologies and DNV’s expertise in enhancing safety and compliance have resulted in a design tailored to address the challenges of today and the future. DNV is very pleased that we can continue to build on the strong relationship that we have with HMD, based on a shared vision of trusted, sustainable, and efficient maritime transportation." Approval in Principle DNV has verified the ship's stability and structural suitability and has awarded it an AiP. An Approval in Principle (AiP) is an independent assessment of a concept within an agreed framework, confirming that the design is feasible, and no significant obstacles exist to prevent the concept from being realised.

KR (Korean Register) has awarded an Approval in Principle (AiP) to HD Hyundai Mipo (HD HMD) for their innovative 23K Ammonia Bunkering Vessel and 18K LNG Bunkering Vessel on September 18, at GASTECH 2024, paving the way for green shipping. The development of these vessels represents a significant advancement in the maritime industry’s efforts to meet the International Maritime Organisation’s (IMO) ambitious greenhouse gas reduction targets, which include at least 20% by 2030 and 70% by 2040, with a goal of achieving net-zero emissions by 2050. Zero carbon emissions The IMO's move has galvanised the industry to explore cleaner maritime bunker fuels The IMO's move has galvanised the industry to explore cleaner maritime bunker fuels, with ammonia emerging as a promising solution due to its zero carbon emissions and low technical barriers. Pioneering global shipping and energy companies are intensifying their focus on developing ammonia engines and fuel cell systems to commercialise decarbonised vessels. LNG bunkering vessels At the same time, as many shipping companies have adopted LNG as a transitional fuel, the demand for LNG-fueled vessels is growing steadily, which has also led to increasing interest in LNG bunkering vessels.  In response to this emerging trend, KR and HD HMD have been pioneering in addressing the challenges associated with this transition. HD HMD developed the initial design for the 23K ammonia bunkering vessel, tailoring the cargo system to the distinctive properties of ammonia. Domestic and international regulations KR reviewed the design in line with type rules and domestic and global regulations KR conducted a rigorous review of the design, assessing it against classification rules and applicable domestic and international regulations, ensuring the design’s safety and compliance with industry standards and granted AiP to the vessel as a result.  On the same day, KR granted another AiP to HD HMD’s 18K LNG bunkering vessel. HD HMD, leveraging its expertise in gas carrier technology, led the initial design and developed the cargo systems for the vessel. KR reviewed the design in line with classification rules and domestic and international regulations, confirming its safety and compliance.  Low-carbon alternative fuels Dong-jin Lee, Head of Initial Design Division at HD HMD, said: "Ammonia and LNG are rapidly gaining traction as low-carbon alternative fuels. As the number of vessels powered by these fuels increases, we anticipate a rising demand for ammonia and LNG bunkering vessels." "With these AiPs from KR, HD HMD has not only laid the groundwork for the commercialisation of ammonia bunkering but has also secured a diverse portfolio of bunkering vessels, aiming to take a pioneering position in the construction of bunkering vessels.” Focuses on alternative fuels Yeontae Kim, Executive Vice President of KR’s Technical Division, said: "The collaborative development of the 23K ammonia bunkering vessel and the 18K LNG bunkering vessel is highly significant as the maritime industry increasingly focuses on alternative fuels to meet environmental regulations." "KR is committed to ongoing technical support for developing environmentally friendly ships and technologies and guiding our customers through the energy transition."