Hyundai Global Services (HGS) has become the latest company to join the ‘green’ retrofit market, it confirmed Monday.
The company, which was spun-off from Hyundai Heavy Industries (HHI), says it is targeting the potential $1bn market for sulphur scrubbers.
It has teamed up with KSS Line to retrofit an unspecified number of LPG carriers owned by the South Korean shipowner with exhaust gas cleaning systems.
HGS said the two companies will operate a joint task force designed to conduct basic engineering for the system, with work set to be finalized by the end of 2017.
In the meantime, KSS Line will analyze fuel savings from voyage data collected from the retrofitted ships, and conduct a feasibility study of the joint business.
“It is forecast that more than 15,000 ships will have the system onboard and the global market to grow worth about $1bn by 2020,” HGS said in a statement Monday.
Separately, HGS said it had also established a strategic partnership with Alfa Laval for retrofitting ballast water treatment systems.
