HD Hyundai Group is poised to commercialize the world's first medium-sized ammonia-powered ship. Last year, it also built the world's first ultra-large methanol container ship.
According to the shipbuilding industry on the 23rd, HD Hyundai Mipo recently installed an ammonia dual-fuel propulsion engine on a medium-sized ammonia carrier with a capacity of 45,000 cubic meters currently under construction. The engine was developed and manufactured by HD Hyundai Heavy Industries in collaboration with Switzerland's WinGD.
The engine installation is carried out during the loading process, which is the latter stage of ship construction. Shipbuilding generally proceeds through stages including design, processing, assembly, outfitting, loading, and launching. Among these, the design accounts for about half of the 18 to 24-month construction period for gas carriers. Once the engine installation is completed, the construction work is expected to be finished within a few months.
The ship being constructed was ordered by Belgian shipping company Exmar for 193.7 billion won, measuring 190 meters in length, 30.4 meters in width, and 18.8 meters in height. Initially ordered as a liquefied petroleum gas (LPG) carrier, the shipowner requested it to also be capable of carrying ammonia.
Due to design changes, the expected delivery date has been postponed from the end of October this year to the end of May next year, but the ship is expected to be delivered early next year. HD Hyundai is streamlining yard operations at its shipbuilding affiliates to facilitate early delivery of ordered vessels.
HD Hyundai is strengthening its technological capabilities for building eco-friendly ships. Last year, it developed ammonia power generation engines in collaboration with WinGD and MAN Energy Solutions. This year, it successfully developed a wing sail that utilizes wind power to propel ships.
Eco-friendly ships are considered the future source of revenue for the shipbuilding industry. They are high value-added, and demand is expected to increase due to strengthened environmental regulations from Europe and the International Maritime Organization (IMO). The EU implemented an emissions trading system for ships last year, and the IMO is also advancing proposals to impose costs on greenhouse gas emissions.
Vice Chairman of HD Hyundai Group is highlighting 'decarbonization' as a key management keyword. In a keynote speech at CES (Consumer Electronics Show) 2024, he noted, 'We will establish a global energy value chain for decarbonization for the future.' This year, at Nor-Shipping, he also presented the group's decarbonization technologies and future vision for the shipbuilding and marine industry.
The proportion of eco-friendly ships among those ordered globally increased from 29.1% (201 vessels) in 2020 to 46.6% (869 vessels) last year. By May of this year, a total of 196 eco-friendly ships (54.6% of the total) had been ordered worldwide. According to the International Energy Agency (IEA), it is projected that by 2050, 84% of all ships will be powered by eco-friendly fuels.