Hyundai Glovis, the logistics unit of South Korean Hyundai Motor Group, has unveiled and named its newbuild very large gas carrier (VLGC) for LPG and/or ammonia transport which will go on a long-term charter with Swiss commodity trading company Trafigura.
The naming ceremony took place at the Hyundai Samho Heavy Industries shipyard in Yeongam, Jeollanam-do, South Korea, on March 26.
The vessel, named Taebaek Explorer, is the first of two newbuild VLGCs which will be chartered by Trafigura on a long-term basis under agreement signed in 2021.
The second vessel of the same type, the Sobaek Explorer, is expected to be launched in mid-2024.
The newbuilds will have an 86,000 cubic meter capacity for LPG and/or ammonia and will be equipped with LPG dual-fuel engines and shaft generators for optimized fuel consumption and reduced CO2 emissions.
According to Trafigura, the VLGCs will also play a key role in expanding the company’s ammonia-carrying capacity, facilitating the transportation of both blue and green ammonia globally, and supporting the development of a global ammonia bunkering infrastructure network.
Speaking at the naming ceremony, Trafigura’s Head of Oil Chartering, Andrea Olivi , highlighted the strategic importance of shipping in Trafigura’s business model and the ongoing efforts to maintain a modern fleet and invest in energy-efficient technologies, lower-carbon fuels, and decarbonization initiatives.
To this end, the commodity trading giant has set an ambitious target of having at least six zero-emission green ammonia-fuelled vessels in its fleet by 2030 to achieve a 25% reduction in the greenhouse gas (GHG) intensity of its shipping operations.
These six ships would represent approximately 18% of Trafigura’s currently owned fleet.