Korea Shipbuilding & Offshore Engineering Co. said Thursday that it and its affiliate Hyundai Heavy Industries Co. have received approval in principle from Norwegian-German ship quality assurance society DNV and Britain’s Lloyd’s Register for their new liquefied natural gas (LNG) fuel supply system. The newly-developed system, dubbed Hi-eGAS (Hyundai High Efficient Gas Supply System), is .
South Korean shipyards grappling with intensifying industry competition, surging material prices and labor costs are expected to breathe easily with rising LNG tanker orders and contract prices on higher demand. According to data compiled by Maeil Business Newspaper on Thursday, Korea Shipbuilding & Offshore Engineering Co. (KSOE), Daewoo Shipbuilding & Marine Engineering Co. (DSME) and .