POSCO, Hanwha Ocean team up on high-manganese steel LNG cargo tanks
Korean steelmaker POSCO and shipbuilder Hanwha Ocean are teaming up to build a demonstration liquified natural gas (LNG) carrier equipped with high-manganese steel cargo tanks, aiming to strengthen Korea’s technological competitiveness in a market long dominated by foreign technology. LNG fuel tanks store the fuel used to power LNG-fueled vessels, while cargo tanks on LNG carriers are large…
Korean steelmaker POSCO and shipbuilder Hanwha Ocean have joined forces to construct a demonstration liquefied natural gas (LNG) carrier featuring high-manganese steel cargo tanks. The collaboration aims to bolster South Korea's technological edge in a market that has historically been controlled by foreign technology. LNG fuel tanks contain the fuel utilized by LNG-powered vessels, while cargo tanks within LNG carriers provide extensive storage for the LNG itself during overseas transportation.
POSCO announced that an memorandum of understanding (MOU) was formalized at the shipbuilder's Geoje shipyard, with the signing attended by senior executives from both organizations, including POSCO President Lee Hee-geun and Hanwha Ocean CEO Kim Hee-cheul. This partnership arises due to the anticipated surge in LNG demand as nations seek out lower-carbon energy sources, consequently driving the need for LNG carriers.
Despite this, Korean shipbuilders remain reliant on foreign technology for the production of cargo tanks, a critical component of these vessels. Under the terms of the MOU, the two companies will work together to develop cargo tanks utilizing POSCO's high-manganese steel technology.
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- POSCO, Hanwha Ocean team up on high-manganese steel LNG cargo tanks koreatimes.co.kr
