K Shipbuilding and Lloyd’s Register  have signed a Memorandum of Understanding to jointly develop an ethanol-fuelled 50,000 dwt Medium Range  tanker.

Announced at Gastech 2026 in Bangkok, the joint development project will assess the technical feasibility, safety and regulatory compliance of a new ethanol-fuelled tanker design, with the objective of achieving Approval in Principle (AiP) from LR and creating a commercially competitive vessel concept for the global product tanker market.

LR will undertake technical reviews covering vessel arrangements, stability, structural requirements and fuel tank integration, while K Shipbuilding will lead the vessel design and development programme.

The project will also examine opportunities to optimise vessel design and operational efficiency while ensuring compliance with applicable class rules and international regulations.

Theo Kourmpelis, Global Business Director for tankers, Lloyd’s Register, said: “Ethanol is already a familiar cargo across the product tanker trades, which makes the MR segment a practical place to assess it as a fuel. As ethanol production and seaborne trade continue to develop, owners active in these trades are well placed to connect its role as a cargo with its use onboard.

“This project will give owners a clearer basis for evaluating ethanol within their fleet strategies, and help lay the groundwork for its broader uptake across the tanker sector.”

Andy McKeran, Chief Growth Officer, Lloyd’s Register, said: “Shipping’s energy transition is unlikely to be delivered through a single fuel solution. Shipowners are increasingly looking at a range of fuel options and want confidence that emerging technologies can be implemented safely, efficiently and in compliance with evolving regulations.

“This project will help deepen industry understanding of ethanol’s potential in the tanker sector and provide owners with greater insight into how alternative fuel solutions can be incorporated into commercially viable vessel designs.”

Tae-Hyun Koh, Chief Technology Officer, K Shipbuilding, said: “We see growing interest in fuel flexibility as shipowners make long-term investment decisions in an increasingly complex regulatory environment. Through this collaboration with Lloyd’s Register, we aim to develop a practical and competitive ethanol-fuelled MR tanker design that addresses both operational and market requirements.”