AsiaLNG as FuelVessels

Korea Line orders LNG bunkering ship at Hyundai Mipo

By Mirza Duran
Korea Line orders LNG bunkering ship at Hyundai Mipo
For illustration only (Image: Korea Line LNG)

Korea Line LNG, a unit of SM Group’s Korea Line, has ordered one liquefied natural gas bunkering vessel at Hyundai Mipo Dockyard.

The order for the 18,000-cbm vessel has a price tag of 69.7 billion won ($62.7 million), according to Korea Line LNG.

In addition, the firm said it has signed a charter deal for the ship with an Asian LNG bunkering supplier.

The contract includes a firm period of five years with options to expand it to ten years in total.

The South Korean firm expects to earn about 50 billion won ($45 million) from the firm charter deal and double the earnings if the charterer decides to exercise the options.

Hyundai Mipo should deliver the vessel in the first half of 2023.

The yard is already building one 18,000-cbm LNG bunkering ship for Korea Line LNG which will go on charter to energy giant Shell.

Also, South Korea’s Pan Ocean has recently ordered an LNG bunkering vessel of the same size at Hyundai Mipo for delivery in May 2023.

This vessel will also go on charter to Shell for a period of six years with extension options. Shell previously told LNG Prime it would use this bunkering vessel in the Gulf of Mexico.

We have contacted Shell to find out whether the firm is behind the charter for the new Korea Line LNG bunkering ship as well. A Shell spokesperson declined to comment.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.

More News Like This

Research and Development

Shell, GTT, and LR to develop new LNG carrier

UK-based LNG giant Shell, French LNG containment specialist GTT, and classification society Lloyd’s Register have launched a joint development project to develop a conceptual 200,000-cbm LNG carrier combining hybrid-electric propulsion with GTT’s Next1 LNG cargo containment technology.
LNG Terminals

Shell delivers first bio-LNG cargo to Singapore

A unit of UK-based LNG giant Shell has delivered what it says is Singapore's first ISCC EU-certified bio-LNG cargo at the Singapore LNG-operated terminal on Jurong Island.
Corporate

Shell: Q3 LNG trading results to be in line compared to previous quarter

UK-based LNG giant Shell expects trading and optimization results for its integrated gas business in the third quarter of 2026 to be in line compared with the previous quarter.
LNG Terminals

Peru LNG sent four shipments in September

Peru LNG’s liquefaction plant at Pampa Melchorita shipped five liquefied natural gas cargoes in September, the same as in the previous three months, according to shipment data by state-owned Perupetro.