Hyundai Global Service, KSS sign retrofit dealHyundai Global Service, a shipbuilding support services subsidiary of Hyundai Heavy Industries, announced its entry into the eco-friendly ship business on Monday.
The company signed a memorandum of understanding with Korean shipowner KSS Line on Monday to retrofit an exhaust gas cleaning system, which cuts ship emissions, on the shipping line’s LPG (liquefied petroleum gas) carriers.
“The cleaning system helps cut ships’ sulfur emissions to below 0.5 percent even with bunker-c oil, a heavy fuel oil cheaper but more polluting than other marine fuels,” a Hyundai Global Service spokesperson said. “Sulfur emissions from bunker-c oil usually ranges from 2 percent to as high as 4 percent.”
According to guidelines from the United Nations International Maritime Organization, sulfur emissions from ships must be below 0.5 percent by 2020 from current 3.5 percent cap.
Hyundai Global Service offers its service in turnkey, which means it takes care of all processes related to eco-friendly service implementation from equipment design, purchase and install to test operations, according to the company.
“The number of ships retrofitted with the exhaust gas cleaning system is expected to reach 15,000 by 2020 making the business a billion-dollar market,” the company said in a statement.
Ahead of the deal with KSS Line, the shipbuilding solutions provider set up a strategic partnership with Sweden-based Alfa Laval to retrofit its ballast water treatment system on ships, as part of its move to gear up for eco-friendship business.
Hyundai Global Service offers maintenance and repair, parts replacement, and retrofit services on ships and offshore plants. It was a business division under Hyundai Heavy Industries until it spun-off from the shipbuilder in December.
BY KIM JEE-HEE [email@example.com]