NOVEMBER 15, 2016 — GE Aviation's marine gas turbine business has signed a multilateral memorandum of understanding (MOU) with several South Korean partners to cooperate in the joint development of LPG-fueled ferry design. It will feature GE's compact and lightweight Combined Gas Turbine, Electric and Steam (COGES) system for all ship power, including propulsion.
Participating in the MOU signing were Bumsu Ku, CEO of shipowner Young Sung Global; Hunsoo Ha, Director of ship manager and marine equipment provider DINTEC; Joonseok Hong, Chairman of the Korea LPG Industry Association; Kirby Luke, Korea Leader, GE Aviation MSO; Jungkang In, CEO of Far East Ship Design & Engineering Co (FESDEC) and Daesung Kim, CEO of cryogenic system specialist Cryos.
GE says that as this will bes the world's first LPG-fueled COGES ship, the LPG industry is actively taking part in the project. For instance, FESDEC is handling the ferry design, whilw Cryos has extensive experience in designing and manufacturing LPG fuel tanks.
The new GE LPG-fueled COGES ferry design is expected to improve safety and efficiency while reducing NOX and CO2 emissions.
The ferry's operational expenses also will decrease by 35%. Therefore, the newly developed ferry is expected to deliver economic value and eco-friendliness that global markets require today.
According to Brien Bolsinger, Vice President of GE Aviation's Marine Operations, "There is increased attention worldwide on LPG as a viable fuel for the maritime industry, and we are excited to collaborate on this ferry project. The compact COGES arrangement—lighter and smaller than comparable four-stroke diesel engines— will allow for more passengers. Owners, operators, designers and shipyards will see that the COGES system also offers lower life cycle costs."
Youngsung Global CEO Bumsu Ku said, "The new eco-friendly LPG-fueled ferry will operate the Incheon-Jeju and other international passenger routes. Also, with the use of LPG, we expect to save on operational costs and contribute to reducing our global environmental footprint." Korea LPG Industry Association Chairman Joonsuk Hong said, "The LPG-fueled ferry to be developed through collaboration between GE and LPG-related technology companies will contribute to the growth of Korea's LPG and shipping industries. In addition, it will be a good opportunity to use Korea's existing LPG bunkering infrastructure."
FESDEC CEO Jungkang In said, "We are happy to participate in the development of the world's first LPG-fueled COGES-powered ferry. We will design a ferry that offers stability, efficiency and economic value." Cryos CEO Daesung Kim also said, "Based on our expertise in manufacturing LPG fuel tanks, we will collaborate with GE to build a world-class LPG-fueled ferry."