Hyundai Enters "Eco-Friendly" Bunker Saving Business, Targets $1bn Scrubber Market

by Ship & Bunker News Team
Monday February 20, 2017

Hyundai Heavy Industries (HHI) has entered the bunker saving "eco-friendly ship business" through its recently spun off marine services company Hyundai Global Services (HGS), the company declared today.

HGS says it has already signed an MOU with Korea's KSS Line aimed at retrofitting medium-sized LPG carriers with exhaust gas scrubbers, a market it sees valued at $1 billion following IMO's decision last October to introduce a 0.50% sulfur cap for bunkers in 2020.

"Ships equipped with the cleaning system will be able to meet the IMO's sulfur emission cap of 0.5% even with bunker-c oil, cheaper than marine gas oil, and thus will significantly be able to lower fuel costs," HGS said in a statement Monday.

"It is forecast that more than 15,000 ships will have the system onboard and the global market to grow worth about USD 1 billion by 2020."

HGS says that as from this month, the two companies will operate a "task force team" that is conducting basic engineering of the scrubber system, while KSS Line analyzes bunker savings by making use of internal voyage data to be collected from the retrofitted ships.

KSS Line's 84,000 cbm LPG carrier Gas Star will be the first among KSS Line's fleet to be retrofitted with the scrubber, says HGS.

In addition to the bunker saving efforts, HGS today said it has also agreed a strategic partnership with Sweden-based Alfa Laval for the retrofitting of Ballast Water Treatment Systems.

Ship & Bunker News Team
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