South Korean shipbuilder K Shipbuilding has signed a memorandum of understanding with Lloyd’s Register to develop an ethanol-fuelled 50,000-dwt medium-range tanker, according to a statement from the classification society.
Announced at Gastech 2026 in Bangkok, the joint development project will assess the design’s technical feasibility, safety and regulatory compliance, with the aim of securing Approval in Principle from LR and producing a commercially competitive vessel for the global product tanker market.
LR will review vessel arrangements, stability, structural requirements and fuel tank integration, while K Shipbuilding will lead design and development. The partners will also examine design optimisation and operating efficiency against applicable class rules and international regulations.
“Ethanol is already a familiar cargo across the product tanker trades, which makes the MR segment a practical place to assess it as a fuel. As ethanol production and seaborne trade continue to develop, owners active in these trades are well placed to connect its role as a cargo with its use onboard,” said Theo Kourmpelis, LR’s global business director for tankers. “This project will give owners a clearer basis for evaluating ethanol within their fleet strategies, and help lay the groundwork for its broader uptake across the tanker sector.”
“Shipping’s energy transition is unlikely to be delivered through a single fuel solution. Shipowners are increasingly looking at a range of fuel options and want confidence that emerging technologies can be implemented safely, efficiently and in compliance with evolving regulations,” said LR chief growth officer Andy McKeran. “This project will help deepen industry understanding of ethanol's potential in the tanker sector and provide owners with greater insight into how alternative fuel solutions can be incorporated into commercially viable vessel designs.”
K Shipbuilding chief technology officer Tae-Hyun Koh said: “We see growing interest in fuel flexibility as shipowners make long-term investment decisions in an increasingly complex regulatory environment. Through this collaboration with Lloyd's Register, we aim to develop a practical and competitive ethanol-fuelled MR tanker design that addresses both operational and market requirements.”
K Shipbuilding Co., Ltd. was founded in 1967 and operates its main shipyard in Jinhae, South Korea. Its shipbuilding portfolio includes product tankers, containerships and gas carriers, and the yard lists annual capacity for 20 MR vessels.
Lloyd’s Register is an international group of companies owned by Lloyd’s Register Group Limited, which is owned by the Lloyd’s Register Foundation. The group provides maritime classification, certification and professional services.