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Hyundai delivers Korea's first VLCC built to new Common Structural Rules

Hyundai delivers Korea's first VLCC built to new Common Structural Rules

Seoul: Antwerp-based Euronav NV has taken delivery of the first very large crude carrier (VLCC) built to the industry's new Common Structural Rules (CSR) by Hyundai Heavy Industries (HHI) in Korea.

The 318,000dwt Olympia (pictured), constructed to Lloyd's Register class, is the first of two sister-ships being built by Euronav at HHI to advanced environmental protection and safety standards for deployment in the demanding oil transportation industry.

"As the first VLCC built in Korea to CSR, Olympia is a milestone in the drive towards the construction of ever-safer tankers," says Marinos Syrigos, site manager for Euronav Ship Management (Hellas). "We are certainly proud of having undertaken a key role - together with Lloyd's Register and Hyundai - in such an important project."

Euronav's management have committed to maintaining 'green passports' for Olympia and her sistership, Antarctica, assuring that the materials used and installed on the vessels during the owner's possession are recorded, demonstrating their commitment to the environment. This record is ultimately critical to the safe scrapping of the vessels at the end of their trading lives.

They have also selected a higher standard of bridge layout and visibility and achieved the requirements of NAV1 notation from Lloyd's Register to improve the safe operation of the vessel, choosing advanced technical features which are expected to prove particularly valuable in the increasingly congested waters of the world's major trade lanes.

According to Lindsay Butler, the project manager for Lloyd's Register Asia, the delivery of the Olympia has ushered in the next generation of tankers from Korean shipyards, ships built under CSR rules that offer the technical advances and innovation required by the industry and society at large.

"This robust ship has raised the standards by increasing the requirements for strength and durability and by developing transparent requirements for fatigue assessment and corrosion, maintaining a direct link between design and the anticipated operational demands throughout all phases of her construction," Butler says. "Euronav is demonstrating their commitment to the industry by offering the services of a ship with our Green Passport and Environmental Protection notations. They combined those features with a hi-tech bridge layout, completing the package of a robust, environmentally friendly ship with advanced operating features."

The new Common Structural Rules, released in 2006 after development by the major classification societies in consultation with the industry's leading ship owners, builders and design houses, have triggered a wave of new designs from the world's shipyards.

The Olympia has a length of 319mtr, a breadth of 60mtr and a moulded depth of 27.8mtr, with engine power of 29,340 kW.

According to the Lloyd's Register - Fairplay database, the Lloyd Register orderbook in Korea comprised 435 vessels, or 30.9m gross tons as of September 30.  [16/12/08]