Milan, Italy – September 10, 2025 – In a significant step towards supporting decarbonisation of the maritime industry, Lloyd’s Register (LR) and HD Hyundai Mipo Dockyard (HMD) have unveiled a Joint Development Project (JDP) for the creation of a next-generation 22,000 CBM LNG bunkering vessel. The milestone initiative was formally recognised with an Approval in Principle (AiP) ceremony during Gastech 2025 in Milan, Italy.
This collaboration aims to address the growing global demand for larger, more efficient LNG bunkering vessels, which are essential for fueling the rapidly expanding fleet of LNG-powered ships. As environmental regulations tighten and decarbonisation strategies gain momentum, the maritime sector is increasingly turning to LNG as a cleaner transitional fuel.
Scaling Up for a Cleaner Future
The newly proposed 22K CBM LNG bunkering vessel design marks a significant leap in scale and efficiency. The increased delivery capacity of this vessel class offers several operational and commercial advantages:
- Reduced bunkering time and frequency, lowering operational downtime and costs for shipowners and operators.
- Enhanced delivery flexibility, aligning with the evolving requirements of modern charterers.
- Optimisation for future compliance, ensuring alignment with international regulations and sustainability targets.
However, the larger size introduces new challenges, particularly potential operational constraints in certain port facilities. To address this, the vessel’s design will be carefully engineered to balance size, manoeuvrability, and port access, ensuring practical global deployment.
Engineering Excellence and Regulatory Assurance
Lloyd’s Register will oversee a comprehensive drawing appraisal and issue the Approval in Principle in accordance with its rigorous classification rules and international standards. The vessel will be designed with a focus on:
- Operational safety
- Cost-efficiency
- Long-term regulatory compliance
This initiative builds upon LR’s global reputation for technical leadership and safety assurance, combined with HMD’s unmatched capabilities in mid-sized and specialised shipbuilding.
Sung-gu Park, President – North East Asia, Lloyd’s Register, commented “This collaboration demonstrates a joint effort to support the roll-out of the LNG bunkering supply chain. By integrating technical development with regulatory standards, we can deliver safely, adequate volumes of LNG to ensure supply at scale for the growing LNG-fuelled fleet.”
Lee Dong-jin, Executive Vice President & Head of Initial and Detailed Design Divisions at HD Hyundai Mipo, added “LNG as an alternative fuel is attracting attention, and we realise that the demand for LNG bunkering vessels is increasing with the rise of LNG-fuelled vessels. With this AiP from LR, we are able to expand our LNG bunkering vessel portfolio and position ourselves as a leader in the fast-growing LNG bunkering market.”
About HD Hyundai Mipo
Founded in 1975, HD Hyundai Mipo Dockyard (HMD) has established itself as the world’s leading shipbuilder for mid-sized vessels. The company is recognised for its cutting-edge technology, precision engineering, and industry-leading productivity. HMD has the largest global market share in petrochemical carriers, container ships, ConRo, and asphalt carriers, and is a recipient of the prestigious World Class Product of Korea designation.
As the shipbuilding industry pivots toward eco-friendly and high value-added solutions, HMD has pioneered the development of green vessels including platform supply vessels (PSVs), combo carriers, OHGCs, juice carriers, and gas carriers. The company has also expanded globally through its Hyundai-Vietnam Shipyard (HVS), which transitioned to shipbuilding in 2009 and has seen remarkable growth since.
About Lloyd’s Register – LR
Lloyd’s Register (LR) was founded in 1760 as a marine classification society and today stands as one of the world’s foremost professional services providers for engineering and technology. Operating in over 75 countries, LR is committed to enhancing the safety, sustainability, and performance of critical infrastructure worldwide. LR’s profits support the Lloyd’s Register Foundation, a global charity driving research, education, and public engagement in engineering and safety.
Every project undertaken by LR is driven by its enduring purpose:
“Working together for a safer world.”
Source Lloyd’s Register