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South Korea's GAS Entec has signed a memorandum of agreement with refrigeration cargo shipper SEoIL Agency Co to construct, charter, operate and invest in what is set to be the world's first LNG-fuelled reeefer carrier.

The new vessel is expected to commence operating from the fourth quarter of 2018.

According to the agreement, GAS Entec is to lead the investment and financing for the construction of the vessel, and will coordinate the entire newbuilding project, including the engineering design, the selection of a shipyard and the supply of major equipment.

Commenting on the news, GAS Entec said: "This vessel, which will be recorded as the world's first LNG fuelled reefer carrier, will become GAS Entec's state-of-the-art LNG technology."

A key element of the project, according to GAS Entec, is a cargo hold cooling system named EnergiCool.

"This technology eliminates the need for existing cooling equipment such as large compressors and there is drastic reduction of power consumption and the fuel consumption of the generator," GAS Entec explained.

GAS Entec says it will jointly develop the LNG refrigerant system with Dongwha Entec and will also be cooperating with dual-fuel engine specialist Wartsila.

Additionally, the project will be using a cargo hold insulation system developed by Hankuk Carbon, where the thickness of the existing cargo hold wall, which is almost 1 metre, will be reduced to increase the cargo load and contribute towards lowering construction costs.