South Korean shipbuilder K Shipbuilding and classification society Lloyd’s Register (LR) have signed a memorandum of understanding to jointly develop a design for a 50,000 dwt ethanol-fuelled medium range (MR) tanker, according to Ship & Bunker. The agreement was announced on Tuesday at the Gastech 2026 conference in Bangkok.
Project Scope and Objectives
According to Ship & Bunker, the joint development project will evaluate the technical feasibility, safety, and regulatory compliance of the ethanol-fuelled design, with the ultimate goal of securing approval in principle from LR. K Shipbuilding will take the lead on the design and development programme, while LR will handle technical reviews covering vessel arrangements, stability, structural requirements, and fuel tank integration, the report states.
The two companies say they will also explore ways to optimise the design for operational efficiency while remaining within class rules and international regulations, Ship & Bunker reports.
Industry Voices
LR global business director for tankers Theo Kourmpelis told Ship & Bunker that ethanol’s established role as a cargo across product tanker trades makes the MR segment a logical testing ground for its use as a fuel. He added that the project would give owners a clearer basis for evaluating ethanol within fleet strategies and help build groundwork for broader adoption across the tanker sector.
K Shipbuilding chief technology officer Tae-Hyun Koh said, as quoted by Ship & Bunker, that the collaboration reflects growing owner interest in fuel flexibility amid a complex regulatory environment, with the aim of producing a practical and commercially competitive ethanol-fuelled MR tanker design.
Ship & Bunker also notes that interest in ethanol as a bunker fuel has accelerated this year, driven by its price relative to green methanol and its compatibility with methanol dual-fuel engines, with engine manufacturer WinGD having given strong approval of ethanol for its methanol engine family.
This marks the second joint project LR has announced with a Korean yard at Gastech this week. The report also notes that K Shipbuilding, LR, and Capital Ship Management are separately collaborating on a wind-assisted 50,000 dwt MR tanker design under another joint development project.
Does This Matter to You?
The development signals continued movement toward alternative marine fuels within the tanker segment, an area of direct interest for owners, operators, and charterers evaluating long-term fleet and fuel strategies. As ethanol gains traction as both a cargo and a potential bunker fuel, MR tanker operators in particular may find this design work relevant to future vessel procurement decisions. LR’s involvement also underscores the classification process owners will need to navigate as new fuel types move from concept toward commercial deployment.
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Sources: Ship & Bunker
