DNV GL, the world's leading classification society, and HHI Group, the world's largest shipyard, have come together to embark on the development of future-proof tanker designs. At a recent "Green Tankers towards 2050" industry webinar, attended by more than 250 participants from shipping companies around the world, DNV GL and HHI Group presented the results of new joint research and explained how green maritime solutions they can help shipowners and managers to cope with stricter environmental regulations now and in the future.

Gagarin Prospect, the world's first Aframax tanker designed to run on LNG, is one of 40 dual-fuel vessels already delivered or under construction at HHI Group. The DNV GL classified vessel is owned by leading Russian ship operator Sovcomflot and was honored, among others, with the Nor-Shipping 2019 Next Generation Ship Award (Image courtesy of HHI Group).

The joint investigation was initiated by a memorandum of understanding (MOU) signed at Gastech's Houston 2019 trade show, when DNV GL and HHI agreed to develop low- and zero-carbon solutions for shipping. The results of the memorandum of understanding were presented by the principal investigators of the companies of the Group HHI Korea Shipbuilding & Offshore Engineering (KSOE), Hyundai Heavy Industries (HHI) and Hyundai Mipo Dockyard (HMD) in a virtual format, co-organized by DNV GL since its headquarters in Høvik, Norway.

"Shippers face many uncertainties in the rapidly changing market." "We believe that the results of our investigations, including proven engineering solutions and alternative fuels, will support them in developing their future strategy for ship operations and fleet renewal."

Seong-Yong Park, COO and SEVP of HHI Group

During the webinar, experts from DNV GL and the HHI Group explained the recent development of regulations covering greenhouse gas emissions from ships, including the introduction of the Design Index for Existing Ships (EEXI) and a new Carbon Intensity Indicator, due to come into force in 2023. To respond to these regulations, HHI Group introduced its range of eco-friendly ships equipped with alternative fuel technologies and energy reduction systems, including 40 dual-fuel LNG ships. fuel already delivered or under construction.

"The International Maritime Organization (IMO) is strengthening environmental regulations, including a 50% reduction of greenhouse gas emissions from ships by 2050 compared to 2008." "We will help the shipping industry achieve these ambitious goals by taking a leading position in the green maritime era through research and development."

HJ Shin, Head of the KSOE Future Ship Research Department

Applying DNV GL's data-driven robust carbon model to its very large crude oil transport (VLCC) and medium range (MR) tankers, HHI Group found that an LNG fuel propulsion system in combination with advanced devices Energy Saving (ESD) can enable a ship to meet the new carbon intensity indicator during its expected lifetime.

"It is important to use alternative fuels such as LNG and the technological solutions that are available now, and not wait until 2030 or beyond." "Our joint research has shown that LNG as a ship fuel, combined with other energy-saving devices, can make a ship both environmentally and economically fit for the next two decades at least,"

YH Chung, Head of HMD Initial Design Department.

"Given that ESDs primarily impact fuel consumption during navigation, the benefits are greatest for large vessels such as VLCCs, which spend more days operating at sea." "These vessels are also less sensitive to price variations when it comes to selecting LNG as fuel. This is because capital expenditures are amortized faster due to higher fuel consumption." "For smaller vessels with lower fuel consumption, such as MR tankers, a larger price difference between very low sulfur oil (VLSFO) and LNG was required to return the initial investment. So "Therefore, these vessels were more sensitive to the volatility of fuel prices."

Christos Chryssakis, DNV GL Business Development Manager

"We still do not have a clear vision of the zero-carbon ship in offshore shipping. As we work hard to achieve the zero-emission ship, the industry also needs to make newbuild decisions today. Therefore, we should not making better the enemy of good. As demonstrated by the HHI Group and our experts, we have at hand energy-efficient designs and technologies that will enable ships to meet IMO emission trajectories throughout their lifetime. "Highly efficient vessels are likely to be attractive to today's charterers and investors, and even more so if CO2 comes at a cost."

Trond Hodne, Senior Vice President Business Development at DNV GL – Maritime.