conversion engineering
Challenges for Growth
Conversion of FSRUs
Conversion of Aged LNG Carriers to FSRUs
Seho Marine Solutions is focusing on the development of LNG-FSRU, a floating LNG terminal,
by applying new technology to old LNG carriers and converting them into marine LNG terminals, FSRU
➀ Renovation cost: 100-120 million USD > Charter cost per day: 80,000-100,000 USD
➁ Can be retrofitted at small and medium-sized repair shipyards
➂ Boil off: 0.5% (typical operating conditions)
➃ Utilization of storage space of existing LNG carriers
➄ Solving IMO environmental regulation problems > Engine is used for power generation as BOG
➅ Daily hire fee: 80,000 - 100,000 USD
➆ Used as FSRU after decommissioning LNG carrier
➇ Securing differentiated technology through R&D, creating jobs and creating new markets
➈ Contribution to environment-friendly energy transition policy
Conversion of Aged LNG Carriers to FSRUs
Business value
FSRU
• Initial Investment Amount Lower • Lead Time (2~3years) • Well experienced manpower & technologies are secured at Korea • Regulatory Issues decreased • Flexible & scalable • Could be established near to coat • Could be used as LNGC with its mobility
Onshore Import Terminal
• Need to make a considerable initial investment • Lead Time (3~5years) • Need well experienced local engineers • Complicated regulatory approval procedures • Limited flexibility and scalability • Need to secure wide space, ground • Fixed place and could be used on the long term base
OldLNGC
• Difficult to overcome IMO regulation issue • 1 day Charter Fee : USD 20K~30K • Fuel consumption rate is higher due to ship’s aging • Ship scraping to be considered after max.30 years old
Convert LNGC toFSRU
• IMO regulation issue could be resolved -G/Es to be used as electric generator using BOG • 1 day Charter Fee : USD80K~100K • Life extension effect by using as FSRU • Technology acquisition and job creation effect • Contribute to Green energy transformation policy
NewFSRU
• FSRU price : Approx. USD350M -1 day Charter Fee :USD120K~140K • Building at larger shipyards • Boiloff:0.15%/day under normal operation term • Higher storage space to be secured
Converting LNGC toFSRU
• Conversion Cost : USD100M~120M -1 day Charter Fee : USD80K~100K • Conversion work could be at middle size of shipyards • Boil off: 0.5% under normal operation term • Utilize the existing LNGC cargo hold space
LNG Supply Chain Using FSRU
