KOREA LNG BUNKERING

On 12th, Korea LNG Bunkering Inc. confirmed that they successfully supplied the fuel to LNG propulsion vessel for the first time on January 10th. 

KOLB founded to promote the LNG bunkering business by KOGAS on last December 4th,  has registered as ‘Natural marine fuel business’ to Ministry of Trade and Industry in accordance with the Article 2-9, Phrase 5 of Urban Gas Business Act on the 30th.
Since the foundation, KOLB signed a ‘LNG supply for LNG propulsion vessel’s trial operation’ with Samsung Heavy Industries, and has successfully supplied about 220 ton LNG(15 tank trucks) using TTS(Truck-to-Ship) method with KNG tank truck and 100 thousand ton tanker vessel built from Geoje Shipyard. 

KOLB aims to achieve 1 trillion won sales in 2030 by expanding the supply method to not only the TTS method, but to STS(Ship-To-Ship) using Jeju LNG no.2 which is the first combined LNG transport and bunkering vessel in Korea and PTS(Port-to-Ship) using the Jetty(LNG bunkership unloading facility) at the LNG plant of KOGAS.

Meanwhile, IMO has regulated the sulphur content of fuel used by vessel to less than 0.5% since January 1st, and many countries are implementing the same or more strict sulphur content in fuel on their territorial waters.
If this trend persists, it will lead to increased number of eco-friendly LNG bunkering shipbuilding in long term, and by year 2030, the use of LNG as marine fuel will increase up to 1.4 million ton in Korea, and about 30 million ton in the world.