Shipping company Ilshin Shipping has placed an order for a 50,000 dwt liquefied natural gas (LNG) fueled bulk carrier at the South Korean shipbuilder Hyundai Mipo Dockyard.
The parties did not disclose the financial terms of the contract, however, they did reveal that the vessel is scheduled for delivery in late 2017.
The vessel’s fuel tanks will be manufactured from high manganese steel, to be supplied by South Korea’s steel company Posco, starting from the third quarter of the year.
Featuring an energy-efficient, eco-friendly dual-fuel engine, the bulker will be deployed to transport limestone from Gangwon Province to Posco’s facilities in Gwangyang City from 2018.
The high manganese steel contains about 20% manganese, and can therefore store LNG at extremely low temperatures.