Korean Register (KR) has been honored with a nomination for the prestigious 'World LNG Shipping Award 2024' at the 24th World LNG Summit & Awards in Berlin, Germany from December 9-12. This recognition celebrates KR's groundbreaking contributions to innovation and excellence in global LNG shipping.

The nomination underscores KR's pivotal role in revising the International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code), specifically the cargo tank filling limit regulations. The 2016 revision to the IGC Code restricted LNG membrane cargo tanks to a 98% filling limit in existing designs, necessitating costly design modifications and additional equipment to exceed this threshold.

In 2019, KR proactively addressed this challenge by presenting robust evidence to the International Maritime Organization's (IMO) Sub-Committee on Carriage of Cargoes and Containers (CCC). Through detailed quantitative risk assessments, cost-benefit analyses, and environmental impact evaluations, KR demonstrated the need for regulatory reform.

The revision received final approval at the recent IMO Maritime Safety Committee meeting and will take effect from January 1, 2028.

This change will enable LNG cargo tanks to exceed the 98% capacity limit without design modifications, offering significant advantages for the industry. For 174K LNG carriers, this means approximately 1.2-1.4% additional cargo capacity (2,000-2,500㎥), improving operational efficiency while reducing emissions per unit.

LEE Hyungchul, Chairman and CEO of KR, stated "This nomination is a testament to KR's technical expertise and influence within the global shipping industry. We will leverage this opportunity to further strengthen KR's global presence and advancing technical innovation and regulatory improvements for our clients and the maritime industry."

The World LNG Summit & Awards, held December 9-12, serves as a premier platform for showcasing cutting-edge trends and innovations in the global LNG industry.