Korean Register (KR) has granted an Approval in Principle (AiP) for a methanol-fueled MR tanker, jointly developed by KR, South Korean shipbuilder K Shipbuilding and equipment manufacturer S&SYS.
The MR tanker is designed as a dual-fuel vessel, harnessing the power of marine gas oil (MGO) and methanol, and it incorporates two methanol fuel tanks positioned on the port and starboard sides of the open deck.
According to the KR, K Shipbuilding spearheaded the vessel’s basic design and the methanol fuel tank design, S&SYS undertook the development of the fuel supply system and KR ensured the safety and regulatory compliance of the design.
In regard to methanol, KR noted that the fuel possesses significant advantages. It said that methanol is easier to store and transport and is considered a green fuel with strong potential for commercialisation in the maritime sector due to its technical feasibility, less toxic nature compared to ammonia and lower technical requirements compared to LNG fuel.
Lee Hyungchul, Chairman and CEO of KR, said: “KR remains committed to advancing decarbonised alternative fuel technologies, with a particular focus on providing technical support for decarbonisation efforts.”
Jang Yoonkeun, CEO of K Shipbuilding, commented: “We are delighted to see that our years of hard work to develop green-fueled vessels has resulted in today’s AiP for the methanol-fueled MR tanker. We will further improve our technologies and pursue innovations to contribute to maritime decarbonisation.”
To remind, in 2022, KR signed a Memorandum of Understanding (MoU) with Ulsan Port Authority (UPA) to support methanol-fueled ships and establish the South Korean port as a low-carbon energy hub.
The duo said it would collaborate on regulatory reform, deregulation of methanol-fueled ships and methanol bunkering, utilising independent tank terminals in Ulsan as methanol storage facilities, testing methanol bunkering at Ulsan port and building methanol supply infrastructure in Korean ports.