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Hyundai Mipo Dockyard Leading Global Gas Carrier Market

Hyundai Mipo Dockyard, the world’s largest medium-sized ship builder, is leading the global gas carrier market by signing a series of contracts for advanced and eco-friendly LPG carriers.

The latest contract was signed in Europe for two LPG carriers with a capacity of 40,000 cubic meters each. A total of 22 medium-sized LPG carriers have been ordered worldwide since 2019 and Hyundai Mipo Dockyard is supposed to deliver all but one. The company entered the LPG carrier market in 2006. Since then, it has delivered 64 LPG carriers in total while developing 38,000 cubic meter LPG carriers and turning them into a global standard. Last year, it developed whole new LPG carriers improved in safety, fuel economy and cargo capacity based on hull structure optimization.

Since May last year, the company has signed 20 letters of intent and contracts for 40,000 cubic meter LPG carriers. A ship of this new type, also called LPG-SAFE, has a double side hull structure for a higher level of collision safety.

In addition, Hyundai Mipo Dockyard’s ships come with a dual-fuel engine so that LPG can be transported and used as a fuel at the same time, fuel efficiency can be improved, and harmful gas emissions can be reduced substantially. Also, its ships are ammonia-ready, which means they are capable of running on the emerging eco-friendly fuel through some remodeling.
Source: Business Korea

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