South Korean engineering firm Gas Entec has inked a memorandum of understanding (MOA) with compatriot shipping company Seoil Agency for the construction of a 155,000 cubic feet reefer carrier.
The duo agreed to build, invest in, charter and operate the LNG-fuelled ship which will be deployed on Seoil’s existing operating route from the fourth quarter of 2018.
Under the terms of the agreement, GAS Entec will lead the investment and financing for the construction of the vessel as well as the entire newbuilding project, including the selection of shipyards and supply of engineering design service and major equipment.
According to Gas Entec, the vessel will be the world’s first LNG-fuelled reefer carrier.
GAS Entec added it will jointly develop the LNG refrigerant system with Dongwha Entec and apply the cycle and generator as a dual fuel engine in cooperation with Wärtsilä.