[Maeil Business Newspaper/ December 13, 2024] Dongsung Finetec, specializing in liquefied natural gas (LNG) insulation materials, announced on December 13 that it has received Approval in Principle (AIP) certification for its ammonia propulsion fuel tank for Suezmax-class ships from Norway’s DNV.

The company began developing the fuel tank in partnership with DH Shipbuilding and Panasia in April, aiming to create a next-generation ammonia propulsion ship. DH Shipbuilding conducted system research and ensured compliance with eco-friendly fuel propulsion regulations, while Panasia designed the ammonia fuel supply system.

In addition to its existing LNG fuel tank, Dongsung Finetec will now develop the ammonia fuel tank as part of its broader strategy to advance eco-friendly fuel storage and usage technologies. Ammonia is emerging as a key fuel for the carbon-neutral era due to its lower greenhouse gas emissions compared to fossil fuels, as well as its ease of transport and storage.

An official from Dongsung Finetec stated, “We have been enhancing our ammonia propulsion fuel tank technology to cope with the environmental regulations of the International Maritime Organization. We are committed to proactively addressing the global demand for ships powered by non-carbon fuels, such as ammonia and hydrogen.”