South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a business tie-up agreement with a U.S. energy company on the development of technologies for a large liquid hydrogen carrier.
The deal with CB&I, a unit of U.S. energy engineering and construction solutions provider McDermott, calls for both firms to cooperate in developing technologies to install large liquid hydrogen storage tanks on ships and related areas, the shipyard said.
DSME said CB&I has manufactured the world's largest liquid hydrogen storage tank and provided it to the Kennedy Space Center in Florida.
Liquid hydrogen has been drawing attention as a new energy source in the age of carbon neutrality since it is easier to transport and store than gaseous hydrogen.
DSME expected the business tie-up to contribute to making liquid hydrogen carriers larger as demand for the marine transport of liquid hydrogen is projected to grow down the road.
"The combination of the DSME's shipbuilding technologies with the CB&I's storage tank know-how will likely help South Korean shipyards retain their top status in the field of large liquid hydrogen carriers," a DSME official said.