LR appointed for longevity study on the LNG Carrier Hyundai Utopia

Busan - 11 April 2013

Hyundai Ocean Service Co. Ltd. (HDOS) has chosen Lloyd’s Register Marine Consulting as the independent service provider for the longevity study on the 1994 built, 273m long, 71909 dwt, LNG Carrier Hyundai Utopia (IMO 9018555).

The President of HDOS, Taek-Gyu Lee, met with Lloyd’s Register’s Korea Chief Representative, Soo-Young Lee in Busan this week to personally sign the contract during a special ceremony at the HDOS office at Busan, Korea.

TG Lee said: “We know that charterers of LNG ships are quite understandably concerned whether older ships can be relied on to remain in service before signing up for new long-term charters of the type common in the LNG business.”

“We, HDOS, know that Lloyd’s Register’s experience with ships in service is indeed recognised by many LNG ship owners, even those who may not have classed their ships with LR initially.”

“There is a high risk that without appropriate experience, expertise and a documented database the Longevity Study may invite serious trials and errors, resulting in double effort and possible unexpected/excessive refurbishment cost and time due to the project complexity.”

“HDOS respects Lloyd’s Register’s known strengths are mainly the vast experience and know-how gained through a number of similar projects in the past, having worldwide specialists who have the experience and knowledge basis for conducting such a project to suit HDOS requirements.”

“I believe that this independent study is the key to the overall success of the business between HDOS and the Korea Gas Corporation. It is the only way to ensure that safety standards are maintained throughout the operation of the vessel.”

“We are pleased to continue this successful relationship with Lloyd’s Register,” added TG Lee.

SY Lee, Lloyd’s Register’s Chief Representative in Korea, said “We are proud of our relationship with HDOS. The four LNG vessels in the current HDOS fleet remain in class with LR since delivery from the shipyard. HDOS is a very important client of LR, with whom we have worked continuously, bringing wide recognition of LR’s services within Korean ship owning/managing circles. LR is pleased to support HDOS for this study, and it is testament to the success of LR’s ability to respond to the on-going needs of the Korean shipping community. We look forward to working with TG Lee and his team at HDOS, to develop opportunities for co-operation and future business.”

“This contract will help HDOS to gain confidence and reputation with charterers by publicising that their vessel has gone through a Longevity Study,” added SY Lee.

About ship longevity studies

Longevity Studies assess the condition of ships, either individually or as a fleet, and recommends a maintenance regime and/or actions necessary to extend the lifespan beyond that anticipated at the time of construction. Whilst such a course of action may satisfy an owner’s commercial requirements, including reducing new-building costs. Third parties, such as Charterers or Insurers require an independent verification of the proposed longevity to satisfy their interests.

An immediate benefit of the programme is identification of remedial work from the inspection prior to entering refit. These items can be included in the docking specification rather than being discovered later avoiding unplanned costs and extension of the refit period.

The long term benefit in improving the ship’s reliability is the reduction in future unplanned maintenance events, normally associated with older ships.

About LR Marine Consulting

LR Marine Consulting is an integral part of Lloyd's Register Marine and focuses its resources in providing quality advice and robust solutions to ship owners and operators outside of the purely regulatory or Classification requirements. The team utilizes technical, operational, human element and sea-going expertise to optimize and extend the performance of an owner's asset or operator's business model. ‘Better Ships, Better Performance’.

LR Marine Consulting has dedicated resources managed across the Americas, Asia, and Europe.

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