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New LPG dual fuel Very Large Gas Carrier ordered for Borealis by IINO

Borealis AG (Borealis) and IINO Kaiun Kaisha, Ltd.(IINO) are delighted to announce the order for a 91,000 CBM Very Large Gas Carrier (VLGC) at Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) in South Korea. The liquefied petroleum gas (LPG) dual fuel VLGC, set for delivery in the first quarter of 2023, is committed on time charter to Borealis.

This ship is IINO’s second VLGC with a LPG dual fuel engine. LPG as a fuel reduces emissions of carbon dioxide (CO2), particulate matter (PM), sulphur oxide (SOx) and nitrogen oxide (NOx) compared to conventional heavy fuel oil. In addition, DSME’s unique Shaft Generator Motor (SGM) system is to be fitted on the ship. The SGM enables the generation of electric-power from the LPG dual fuel engine during navigation and contributes to lower fuel/lubricant oil consumption and lower emissions.

This innovative shipping solution will support Borealis future sourcing of feedstock for their world-scale propane dehydrogenation plant in Kallo, Belgium, currently under construction. Borealis looks forward to the partnership with IINO to develop and operate a safe, environmentally friendly and reliable, VLGC shipping solution, based on the latest technology.

IINO has been engaged in LPG Shipping with local and overseas LPG Charterers, End-users and Traders for many years based on medium to long term contracts. This year, IINO has set the target of reducing 40% Green House Gas emissions per transport unit in its operating ships by 2030 compared to 2008. The additional eco-friendly VLGC would be an important step to achieve a sustainable society.

Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. With head offices in Vienna, Austria, Borealis employs 6,900 employees and operates in over 120 countries.

END

Media contacts:

Borealis :
Virginia Mesicek
e-mail: virginia.mesicek@borealisgroup.com
Tel. +43 1 22 400 772 (Vienna, Austria)

IINO :
Stakeholder Relations Department
e-mail: ikk_srpr@ex.iino.co.jp
Tel. +81 3 6273 3069 (Tokyo, Japan)

Media Contact
Group Media desk
Virginia Wieser, Lena Lehner
+43 1 22 400 899 (Vienna, Austria)
media@borealisgroup.com

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