DNV GL Regional Business Development Manager Korea and Japan Hwa Lyong Lee and DHSC president and CEO Dae-Seong Jeong at the signing ceremony in Busan. Credit: DNV GL.

South Korea-based Daehan Shipbuilding (DHSC) and DNV GL have entered a Joint Development Project (JDP) for the development of small-size LPG carriers.

As per the agreement, the two organisations will co-develop the LPG carriers, starting from next month. The project is expected to complete by the end of December this year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The demand for the development of LPG and LNG carriers has increased, due to the stricter emission regulations and a shale gas boom.

Additionally, an increase in the cargo rates has also increased the orders for LPG carriers.

In order to address the need and take opportunities, DHSC has planned to expand the ship type lines and begin the development of LPG carriers.

DHSC president and CEO Dae-Seong Jeong said: “DHSC already established its position as a reliable shipbuilder with the capability to build different ship types other than gas carriers.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“As the industry is changing rapidly, we are now strengthening our competitiveness by developing LPG carriers and show our technological competence to ship owners.”

DNV GL will oversee the basic and detailed vessel designs according to the relevant rules and regulations. It will also offer technical advice and recommendations to boost development of the design.

DNV GL Regional Manager Korea and Japan Vidar Dolonen added: “For decades, DNV GL has led the way in the gas carrier segment, working in partnership with stakeholders to improve vessel performance.

“We are the most appropriate partner for DHSC’s new challenge, and we anticipate a fruitful result for both parties.”

In February, DNV GL introduced a new online LNG bunkering platform to support operators from order to delivery.