KOGAS subsidiary clinches first ship-to-ship LNG bunkering order from domestic shipping company

Lim Chang-won Reporter() | Posted : June 15, 2022, 17:22 | Updated : June 15, 2022, 17:22

[Courtesy of Korea LNG Bunkering]

SEOUL -- The sole provider of LNG bunkering services in South Korea clinched its first ship-to-ship bunkering order from a domestic shipping company that imports iron ore from Australia. The deal comes as South Korea is trying to activate its bunkering market for liquefied natural gas (LNG), a proven commercial solution to meet ever-tightening emissions requirements.

Korea LNG Bunkering (KOLB) has signed a ship-to-ship (STS) bunkering contract to supply about 1,000 tons of LNG per session to H-Line Shipping's iron ore carrier from the end of June in the southwestern port city of Mokpo. Bunkering is the supplying of fuel for use by ships and includes the shipboard logistics of loading fuel and distributing it among available bunker tanks.

KOLB, a wholly-owned subsidiary of Korea Gas Corporation (KOGAS), operates Asia's first dual-purpose LNG bunker and carrier vessel with another vessel to be operative in early 2023. In June 2021, KOLB successfully carried out ship-to-ship bunkering for an LNG-powered vessel at a domestic shipyard. STS bunkering enables the test run of newly-built LNG carriers at shipyards. 
    
KOGAS, a state-run company that operates LNG regasification terminals and natural gas pipelines, will conduct an empirical test at the southern port of Busan by the end of 2022 for simultaneous operation, which performs cargo unloading and bunkering at the same time to save time. 

KOGAS has promised to build bunkering facilities for LNG-powered ships and expand LNG charging stations in ports and cargo terminals. In response to growing demands for eco-friendly ships, South Korean shipbuilders work hard to secure a competitive edge in LNG-powered vessels and upgrade technologies.
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