MoU for a 50,000 dwt ethanol-fuelled MR tanker design announced at Gastech 2026 in Bangkok. Image Credit: LR / K Shipbuilding

• MoU for a 50,000 dwt ethanol-fuelled MR tanker design announced at Gastech 2026 in Bangkok
• K Shipbuilding leads the design; LR reviews arrangements, stability, structure, and fuel tank integration
• Goal is LR approval in principle and a commercially competitive concept for the product tanker market
• Second LR joint project with a Korean yard announced at Gastech this week

South Korean yard K Shipbuilding and classification society Lloyd's Register (LR) have signed a memorandum of understanding to jointly develop an ethanol-fuelled 50,000 dwt medium range tanker design.

The joint development project, announced on Tuesday at Gastech 2026 in Bangkok, will assess the technical feasibility, safety, and regulatory compliance of the design, with the aim of securing approval in principle from LR, the class society said in an emailed press release.

K Shipbuilding will lead the design and development programme, while LR will carry out technical reviews covering vessel arrangements, stability, structural requirements, and fuel tank integration.

The partners say the project will also look for ways to optimise the design and its operational efficiency while keeping within class rules and international regulations.

"Ethanol is already a familiar cargo across the product tanker trades, which makes the MR segment a practical place to assess it as a fuel," said LR global business director for tankers Theo Kourmpelis.

"As ethanol production and seaborne trade continue to develop, owners active in these trades are well placed to connect its role as a cargo with its use onboard.

"This project will give owners a clearer basis for evaluating ethanol within their fleet strategies, and help lay the groundwork for its broader uptake across the tanker sector."

Interest in ethanol as a bunker fuel has grown quickly this year, driven by its price against green methanol, and its compatibility with methanol dual-fuel engines.

Engine manufacturer WinGD has given strong approval of the fuel for its methanol engine family, as Ship & Bunker set out in a feature earlier this year.

"We see growing interest in fuel flexibility as shipowners make long-term investment decisions in an increasingly complex regulatory environment," said K Shipbuilding chief technology officer Tae-Hyun Koh.

"Through this collaboration with Lloyd's Register, we aim to develop a practical and competitive ethanol-fuelled MR tanker design that addresses both operational and market requirements."

The two companies are already working together, alongside Capital Ship Management, on a wind-assisted 50,000 dwt MR tanker under a separate joint development project.

LR chief growth officer Andy McKeran said Shipping's energy transition is unlikely to be delivered by a single fuel, and that owners want confidence that emerging technologies can be implemented safely and in compliance with evolving regulations.