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Korea: Construction of first bunkering ship for LNG-fuelled coastal vessels begins

Project involves Vessel Offshore Plant Research Institute, POSCO, EK Heavy Industries, Transgas Solution, Mytek, Valmax Technology, and Seoul Line
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The construction of South Korea’s first 500 cubic meter capacity liquefied natural gas (LNG) bunkering vessel has begun on Thursday (7 May), said the Ministry of Oceans and Fisheries in a recent statement.

With the implementation of the IMO 2020 0.5% sulphur cap in January this year, the number of ships using LNG as a bunker fuel is increasing worldwide, it notes. 

The Ministry of Oceans and Fisheries has been responding accordingly by promoting the introduction of LNG propulsion vessels through its ‘LNG bunkering core technology development and system construction project’ since 2018.

As part of this endeavour, the ‘Coastal Vessel Custom LNG Bunkering System Development Project’ is a project to develop and establish offshore LNG bunkering facilities in line with the growing demand for LNG bunkering along the Korean coastline. 

A steel cutting ceremony was held earlier this week to commemorate the start of the ship’s construction, adds the ministry. 

The vessel to be constructed will be developed purely based on technology developed domestically, involving Korean stakeholders in the industry: the Vessel Offshore Plant Research Institute, POSCO, EK Heavy Industries, Transgas Solution, Mytek, Valmax Technology, and Seoul Line. 

Construction is expected to be completed by 2021, and the vessel is planned for LNG bunkering purposes from 2023 after completing a year of sea trials. 

The bunkering ship can supply more than five coastal vessels on a single charge, it notes.

“I hope that this project will successfully build the first LNG bunkering vessel in Korea to develop an infrastructure that can reliably supply LNG to domestic coastal vessels; and I hope that related industries will be revitalised,” said Lee An-ho, head of the Marine Policy Division at the Ministry of Oceans and Fisheries.


Related: Korea govt planning fuel conversion of 140 state-owned ships by 2030
Related: South Korea to launch $250 million LNG conversion pilot project


Photo credit: Busan Port Authority
Published: 8 May, 2020

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Alternative Fuels

Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Following the successful deployment of “ONE Singapore” and its sister vessels, “ONE Solidarity” will be deployed on the Mediterranean Pacific South 2 (MS2) service.
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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Singapore-based container shipping company Ocean Network Express (ONE) on Thursday (3 July) said it celebrated the maiden voyage of containership ONE Solidarity as the ship made its first-ever arrival in Shekou, China. 

“As one of our S-series methanol and ammonia ready container vessels, ONE Solidarity is another demonstration of ONE’s commitment to sustainable shipping,” the company said in a social media post. 

Following the successful deployment of ONE Singapore and its sister vessels, ONE Solidarity will be deployed on the Mediterranean Pacific South 2 (MS2) service. 

“Her deployment will boost our service capacity, ensuring faster, more reliable, and highly efficient shipping offerings across key global trade lanes,” the company added.

 

Photo credit: Ocean Network Express
Published: 3 July, 2026

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Alternative Fuels

“Lucia Cosulich” enters final preparation ahead of bunkering operations

Following delivery of the ship in China, it will now enter the final preparation phase ahead of its next operational steps, strengthening Fratelli Cosulich’s ability to provide reliable bunkering solutions.
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“Lucia Cosulich” enters final preparation ahead of bunkering operations

Fratelli Cosulich Marine Energy on Thursday (2 July) celebrated the delivery of Lucia Cosulich at Taizhou Maple Leaf Shipyard in China.

The vessel is the second of four sister methanol-ready IMO II bunker tankers developed within the Group’s fleet expansion programme and follows the launching ceremony held on 2 May 2026.

Designed to support the Group’s bunkering operations and future fuel requirements, Lucia Cosulich is part of the new generation of vessels developed by Fratelli Cosulich Marine Energy to combine operational reliability, safety and fuel flexibility.

Lucia Cosulich will now enter the final preparation phase ahead of its next operational steps, further strengthening the Group’s ability to provide reliable bunkering solutions.

“We wish Lucia Cosulich and her crew fair winds on the next stage of her journey,” the company said. 

Related: Fratelli Cosulich launches second methanol-ready bunker tanker in China

 

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

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Business

Glencore backs FincoEnergies’ biofuel growth with majority stake acquisition

With Glencore’s support, FincoEnergies is well positioned to continue expanding its offerings in biofuels across multiple transport segments and to increase its presence in new geographies.
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July 3, 2026

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Dutch biofuel supplier FincoEnergies on Thursday (2 July) announced the completion of global commodities trader Glencore’s acquisition of a majority stake in the company, forming a partnership with Coloured Finches.

FincoEnergies said its fuel distribution and logistics infrastructure, customer relationships and expertise in downstream fuel transportation will be complemented by Glencore’s global scale, sourcing capabilities and experience across the energy value chain.

With Glencore’s support, FincoEnergies added it is well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments and to increase its presence in new geographies.

Jan-Willem van der Velden, FincoEnergies CEO and Founder, said: “Today marks an exciting next step for FincoEnergies. Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition. With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve.”

Maxim Kolupaev, Head of Glencore Energy UK, said: “Glencore’s investment in FincoEnergies strengthens the presence of our business in Northwest Europe and creates a strong platform for future growth. We are looking forward to continuing to work closely with the FincoEnergies team and building on the successful relationship we have already developed together.”

Manifold Times previously reported FincoEnergies signing an agreement with Glencore for the acquisition of a majority shareholding in the FincoEnergies Group in a partnership with Coloured Finches.

Related: Glencore acquires majority stake in Dutch biofuel supplier FincoEnergies

 

Photo credit: FincoEnergies
Published: 3 July, 2026

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