POSCO, Hanwha Ocean Say High-Manganese Steel Will Drive K-Shipbuilding's Global Competitiveness
TECHWORLD ·
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POSCO has signed an MOU with Hanwha Ocean to secure a demonstration vessel for a high-manganese steel Cargo Tank.
POSCO International and POSCO Flow will also participate, supporting the securing and operation of the demonstration vessel.
Based on LNG carrier Cargo Tank demonstration, the two companies plan to expand the range of applications to LNG bunkering vessels and FSRU, among others.
POSCO has developed its own high-manganese steel, which is already being used in LNG fuel tanks. POSCO has joined forces with Hanwha Ocean to expand the use of high-manganese steel from LNG fuel tanks to Cargo Tanks for large LNG carriers. A Cargo Tank is a facility for storing large volumes of LNG for overseas transport.
To put this into action, the two companies are pushing ahead with broader application of high-manganese steel to Cargo Tanks on large LNG carriers. On the 15th, POSCO announced that it had signed a memorandum of understanding (MOU) with Hanwha Ocean to secure a demonstration vessel for a high-manganese steel Cargo Tank. The purpose of the partnership is to strengthen the unrivaled competitiveness of the K-shipbuilding industry.
The partnership also includes POSCO International and POSCO Flow. POSCO International and POSCO Flow will support securing and operating the demonstration vessel. A demonstration vessel is a ship that verifies new materials and new technologies in real operating conditions.
Hanwha Ocean and POSCO plan to build a demonstration vessel equipped with a high-manganese steel Cargo Tank, centered on Hanwha Ocean. To prove the commercial viability of the high-manganese steel Cargo Tank, the companies aim to verify safety, durability and operational efficiency in real operating environments, and to secure a Track Record for presentation to global shipowners.
POSCO said high-manganese steel is a specialty steel material based on POSCO's proprietary technology. POSCO said it retains excellent strength and impact toughness even at cryogenic temperatures below minus 163 degrees Celsius, and that compared with INVAR, the nickel alloy steel that is a key material for existing LNG cargo tanks, it offers overwhelming cost competitiveness and stable material supply because it uses manganese, which is abundant in reserves.
Against the backdrop of the global shift to low-carbon energy, LNG demand is expected to rise sharply in the years ahead. As a result, the market for offshore LNG infrastructure, including LNG carriers, LNG bunkering vessels and FSRU, is also expected to grow explosively. An FSRU is a floating offshore facility that stores LNG brought in by sea and then vaporizes it for onshore supply.
The POSCO Group is pursuing a groupwide synergy strategy for a 'LNG Full Value Chain.' The strategy consists of linking POSCO's development of super-gap next-generation materials, POSCO International's LNG trading and terminal operations, and POSCO Flow's logistics support.
POSCO and the other party are pushing ahead with demonstration of LNG carrier Cargo Tanks. Based on that demonstration, the two companies plan to expand the range of applications in the future.
The targets for expansion are LNG bunkering vessels and floating storage and regasification units (FSRU), and the direction of expansion covers offshore energy facilities as a whole. High-manganese steel can be used for LNG transport, and it can also be applied to hydrogen, ethane and ammonia cargo transport. Its range of application is expected to gradually expand across the cryogenic cargo transport market as a whole.
Lee Hee-gun, CEO of POSCO, said POSCO's high-manganese steel technology is a core weapon for securing unrivaled competitiveness in the global market for K-shipbuilding. He also said the company intends to take the lead in setting the global standard for eco-friendly ship materials, starting with LNG cargo tanks.
Kim Hee-cheul, CEO of Hanwha Ocean, said the company will combine the technological capabilities of Hanwha Ocean and the other company to provide Cargo Tank solutions with safety and economic efficiency, and based on that, will expand the scope of application to various cryogenic cargo transport sectors, including LNG, to make Hanwha Ocean's overwhelming technological strength known in the global market.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=408273
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Source: TECHWORLD
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