Daewoo Shipbuilding & Marine Engineering (DSME) has finally developed its LNG containment system, potentially saving the Korean yard millions of dollars it pays every year to GTT, the world’s dominant LNG containment system manufacturer.
Called DCS16 (DSME Cargo Containment System 16), the yard said in a release its new system “is superior to existing technologies in terms of quality and stability”.
The DSC16 has already received general approvals on its design from multiple classification societies. It also meets the latest International Gas Code of the IMO and is now awaiting for approval from the US Coast Guard. Shell is being tipped as the first customer of this new containment system.
Shipyards pay around $12m to GTT for every membrane LNG ship they build. Korean yards, along with Kogas, the country’s gas importer, have been trying to develop their own LNG containment system for many years, and even have mulled buying out France’s GTT in the past.