K Shipbuilding to build 2+2 LNG/methanol-ready tankers for Greek shipowner

October 2, 2025, by Sara Kosmajac

South Korea’s K Shipbuilding (KSB) has clinched a contract to construct two alternative fuel-ready 50,000 dwt tankers for Greece-based shipowner Lastco.

According to Greek shipbroker Intermodal, K Shipbuilding is set to build two future-fit vessels that will come with methanol-ready and liquefied natural gas (LNG)-ready capabilities, with an option for an additional pair.

As informed, Lastco is expected to cash out $50 million per unit. Once completed, the vessels are planned to be handed over in 2027.

The Greek maritime transport player currently owns and operates a fleet of around 32 ships, representing 2.9 million deadweight tons. Lastco’s roster encompasses LR2 tankers, MR tankers, as well as very large gas carriers (VLGCs) and very large crude carriers (VLCCs).

Over the past years, in the face of increasingly tight environmental regulations, Lastco has set its sights on renewing its fleet, i.e., adding new units to the list with more ‘advanced’ technological features that could ensure compliance with regulatory mandates, such as the International Maritime Organization’s (IMO) Net Zero Framework (NFZ).

As understood, owing to the fact that the tankers booked at K Shipbuilding will have the option to be converted to run on liquefied natural gas and/or methanol, these vessels could be an ‘important’ piece in the company’s sustainability puzzle.

Specifically, LNG has been associated with the potential to cut greenhouse gas (GHG) emissions by up to 23%, while green methanol, in particular, has been linked to a GHG emission reduction of over 70%, compared to conventional fuel sources.

Liquefied natural gas has dominated global orderbooks, securing a leading position both last year and this year, according to Norwegian classification society DNV’s Alternative Fuels Insights (AFI) platform. Methanol, an emerging energy source, has followed closely behind.

Per DNV, methanol was one of the most popular choices among maritime stakeholders at the beginning of 2024, with 23 units powered by this clean fuel recorded at that time. LNG nonetheless took over with the number of ships fueled by liquefied natural gas ordered in 2024 totaling 264. This is over double that of 2023.

DNV’s data from July 2025 painted a similar picture. As divulged by the classification society, new orders for alternative-fueled vessels reached 19.8 million gross tonnes (GT) in the first half of 2025, exceeding the 2024 figure by 78%. LNG was once again the frontrunner, with a total of 151 units booked.

Methanol was once again second, representing 4.6 million GT in orders or 40 new vessels across the container, RoPax, tanker, offshore, and car carrier segments.

View on Offshore-energy.