DSME develops efficient system for LNG transport

Daewoo Shipbuilding and Marine Engineering (DSME) has developed a system for liquefied natural gas containers that results in minimal loss of gas from vaporization.

The company said in a release Thursday that the system, called Solidus, has the lowest level of vaporization, at 0.05 percent.

Until now, 0.07 percent had been the industry threshold, according to the shipbuilder. Less vaporization means ships can deliver more gas and save money.

DSME estimates that companies can save roughly 500 million won ($445,000) a year using the system on a 17-cubic-meter (600-cubic-foot) liquefied natural gas carrier.

On Thursday, the Korea Exchange decided to resume trading of the company’s stock on the Kospi starting next Monday.

DSME’s stock has been suspended from trading for a year and three months because of accounting fraud.

By Kim Jee-hee