Lloyd’s Register (LR), HD Hyundai Heavy Industries (HHI) and GTT have signed a joint development project agreement to develop and technically assess a 150,000-cubic-metre ultra-large ethane carrier (ULEC) incorporating GTT’s Mark III Slim cargo containment system.

Announced at Gastech 2026 in Bangkok, the project will combine HHI’s shipbuilding expertise, GTT’s cargo containment technology and LR’s classification and technical assurance capabilities.

The vessel design will be developed and reviewed in accordance with LR Rules.

The 150,000-cubic-metre concept is the largest design proposed for the ethane carrier segment.

The partners said growing ethane trade and the importance of voyage economics are driving interest in larger vessels capable of carrying greater cargo volumes while maintaining safety, operational efficiency and reliability.

Under the project, the companies will assess the technical challenges involved in increasing ethane carrier capacity to 150,000 cubic metres.

The work will cover vessel design, cargo containment integration, safety requirements and compliance with classification and regulatory standards.

The collaboration is intended to establish a technical foundation for future ultra-large ethane carriers and provide greater insight into the design, operational and safety considerations involved in vessels of this scale.

Constantinos Chaelis, Global Gas Segment Director, LR, said: “As the ethane trade expands, owners are looking for larger and more efficient vessel concepts that can deliver operational and commercial advantages without compromising safety or reliability. This collaboration provides an opportunity to apply our advanced gas carrier expertise to the development of a credible and technically robust 150,000 cbm ULEC concept that helps establish a clear technical pathway for future projects in this segment.”

Hongryeul Ryu, Chief Technology Officer, HHI, said : “HHI has continuously pursued technological innovation, with optimized ship designs tailored to operating conditions and customer requirements serving as one of its core design values. This JDP is founded on the same design philosophy and aims to introduce a new solution that enhances both vessel performance and economic efficiency.@

Ryu added: “HHI's 150,000 cbm ULEC, incorporating the MARK III SLIM design, is expected to become a next-generation vessel that achieves both weight reduction and improved performance. Furthermore, this project is anticipated to represent an important milestone in establishing a new paradigm for ship design through the application of the latest cargo containment system (CCS).”

François Michel, Chief Executive Officer, GTT, said: “Thanks to the versatility of our technologies, we can deliver greater efficiency across ethane transportation. With Mark III Slim, this translates into increased cargo capacity and shorter vessel construction times. GTT, HD Hyundai Heavy Industries and Lloyd’s Register share the ambition and responsibility to advance a new generation of increasingly efficient vessels that maintain the same rigorous standards of safety, reliability and industrial compliance.” -OGN/TradeArabia News Service