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KSOE vows to lead eco-friendly innovation at Nor-Shipping

June 8, 2023 - 15:54 By Yu Ji-soo
HD Hyundai President Chung Ki-sun meets with vessel owners during a business meeting held on the sidelines of the Nor-Shipping exhibition held in Oslo this week. (HD Hyundai)

HD Korea Shipbuilding and Offshore Engineering said Thursday it has participated in Nor-Shipping 2023, an exhibition where Norwegian and international companies showcase solutions and innovations for maritime business and sustainable ocean development.

HD Hyundai President Chung Ki-sun and HD Korea Shipbuilding & Offshore Engineering Vice Chairman Ka Sam-hyun also attended the event, which was held in the Norwegian capital of Oslo from Tuesday through Friday. During their visit, the top executives met with business partners and clients to discuss ways to lead an eco-friendly transformation of the ocean and enhance further cooperation in related efforts.

“Our technology will be the driving force behind achieving such goals,” Chung was quoted as saying during the meeting.

Chung also met with Lim Ki-tack, the secretary-general of the International Maritime Organization, during the exhibition to discuss major issues in the global shipbuilding industry, such as environmental concerns and digital transformation.

Meanwhile, KSOE signed a deal with British marine and offshore classification company Lloyd’s Register, Norwegian shipping company Knutsen Group and company affiliate HD Hyundai Heavy Industries on Wednesday.

Under the deal, they will jointly calculate the total amount of carbon emissions that a designated liquefied natural gas carrier will produce during its entire lifespan, from procurement to construction, operation and disposal.

Each company will take on a different role, KSOE explained.

Constructed by HD Hyundai Heavy Industries, the 174,000-square-meter vessel will be delivered this month to Knutsen, which will own the ship. Knutsen, KSOE and HD Hyundai Heavy Industries then aim to provide relevant data on carbon emissions as well as raw material and energy usage recorded during the ship’s lifespan. This data will be applied to Lloyd Register’s planned model for measuring.

Afterward, they plan to publish a comprehensive report of the results.

If successful, KSOE expects that this collaboration will provide a solid strategy and set an example for reducing the global shipbuilding industry’s carbon footprint, which is necessary as the severity of climate change gradually worsens.

Meanwhile, KSOE also received an approval in principle and verifications from several registries for a 22,000-square-meter multi-purpose gas carrier and low-flashpoint fuel supply system. An approval in principle involves examining plans and documents to confirm a product’s technical feasibility in the early design stage based on designated rules.