South Korea LNG, Alternative Bunker Fuel Market Set for a Boost

by Ship & Bunker News Team
Friday January 26, 2018

South Korea this week indicated the country's alternative bunker fuel market is set for a boost after the government announced it would make widespread revisions to rules in an effort to promote new industries and new technologies.

In total, President Moon Jae-in said 38 "rigid government regulations" are to be changed.

For the marine fuel space, it was expected the changes will allow for the bunkering of liquefied natural gas (LNG) and other types of alternative bunker fuel in the country.

Interest in alternative bunker fuels, and LNG in particular, has gained traction in recent years after IMO announced a 0.50% global sulfur cap would come into force on January 1, 2020.