On December 23, SK Oceanplant announced the signing of an order with KTS Shipping for two 6,800 DWT methanol dual-fuel chemical/product tankers. The total order value amounts to 60 billion won, with each vessel costing about $20.575 million.
The new vessel measures 109.6 meters in length and 18.2 meters in width, with a deadweight capacity of 6,800 tons. It will be equipped with a methanol dual-fuel engine. Compared to traditional fuels such as heavy fuel oil, methanol fuel can significantly reduce emissions of sulfur oxides and fine particulate matter while also lowering carbon dioxide emissions. Consequently, in the shipping market where global environmental regulations are becoming increasingly stringent, methanol fuel is regarded as a highly promising new eco-friendly fuel.
The two new vessels are expected to commence construction in January and April 2027, respectively, with delivery scheduled for May 2028. SK Oceanplant will be responsible for the entire process, including vessel design, equipment procurement, cutting and assembly, outfitting, and sea trials, and plans to further enhance its technological competitiveness in the field of environmentally friendly transport vessels through this project.
Notably, this order marks SK Oceanplant’s first newbuilding contract in commercial shipbuilding in approximately four years since delivering stainless steel chemical tankers in 2020. It also represents a new vessel order placed by shipowner KTS Shipping following its receipt of funding under the Ministry of Oceans and Fisheries’ “Eco-friendly Ship Promotion Support Program”.
The Ministry of Oceans and Fisheries’ “Eco-friendly Ship Promotion Support Program” aims to reduce greenhouse gas emissions and accelerate the green transformation of Korea’s shipbuilding and maritime industries by promoting vessels powered by alternative fuels such as methanol and ammonia. Its core objective is to stimulate private capital investment by subsidizing a portion of the construction costs for certified ships.
Industry insiders in South Korea believe that SK Oceanplant’s order is a model of collaboration between the South Korean government and private investment, and is expected to bring substantial results to expanding the ecosystem of environmentally friendly vessels. SK Oceanplant will also accumulate technical strength in environmentally friendly vessels through this project, laying the foundation for undertaking more commercial vessel orders in the future.
It is understood that SK Oceanplant previously delivered a 6,600 DWT chemical tanker in 2018 and a 3,990 DWT chemical tanker in 2020, demonstrating its experience in constructing small-to-medium-sized chemical tankers. Securing this new order after a four-year hiatus holds significant importance for the shipyard. It not only successfully expands SK Oceanplant’s market for high-value-added vessels incorporating methanol dual-fuel technology but also represents a strategic expansion of its business footprint.
Through this agreement, SK Oceanplant has officially re-entered the commercial shipbuilding sector based on eco-friendly technologies. Particularly with the rapidly growing demand for methanol dual-fuel vessels in the shipping industry, the company anticipates accelerating new orders, business expansion, equipment supply chain development, and strengthening its partner network in the future.
According to available information, SK Oceanplant is a subsidiary of SK ECOPLANT, a subsidiary of the South Korean SK Group. Headquartered in Goseong County, Gyeongsangnam-do, its business scope covers offshore wind power equipment, merchant ship construction, and thick-walled steel pipe manufacturing. It is a leading company in the field of offshore wind power infrastructure in South Korea and also has the capability to build small and medium-sized environmentally friendly vessels and special vessels.