South Korean steelmaker POSCO joined forces with Ilsin Logistics to build a 'green' LNG-powered bulk carrier.

Last month both companies got together to hold a christening ceremony for the “Green Iris,” so named because it is equipped with an LNG fuel tank made of POSCO’s high manganese steel.

At 50,000 dwt, the Green Iris is the largest carrier in the world and this year will transport limestones from the port of Donghae in Gangwon-do to POSCO's Gwangyang Steel Works, the largest facility of its kind in the world.

POSCO claims that its high manganese steel allows the Green Iris' fuel tank to withstand temperatures as low as -196℃, so that it can store and transfer LNG. Moreover, it is highly weldable and cost-efficient compared to other common materials for LNG fuel tanks such as nickel steel or aluminium alloys.

POSCO developed the technology for its high manganese steel after 10 years of research starting in the late 2000s. Today, it is one of the company’s leading world premium products.

Due to strengthening environmental regulations worldwide on emissions of sulfur oxides, nitrogen oxides and carbon dioxide from vessels, demand for high manganese steel for LNG tanks is expected to increase dramatically.