Hanwha Ocean bags $1.84 billion Qatari LNG carrier order

South Korean shipbuilder Hanwha Ocean, previously known as DSME, has secured an LNG carrier order worth about $1.84 billion as part of QatarEnergy’s massive shipbuilding program.

The shipbuilder said on Monday it will build eight LNG carriers for an owner in Oceania and deliver them by January 2028.

Hanwha Ocean did not reveal the name of the company but QatarEnergy announced on Sunday that it has signed time charter agreements for 25 LNG carriers with Nakilat as part of the second phase of the shipbuilding program, saying that eight of these 174,000 cbm vessels will be built by Hanwha Ocean.

Prior to this, Hanwha Ocean signed a memorandum of understanding for 12 LNG carrieers tied to the shipbuilding program.

The price of about $230 million per LNG carrier is also in line with the previous orders under the second part of the program. It is also much less then the current price of about $265-270 million for 174,000 cbm LNG carriers in South Korea.

Last year, QatarEnergy signed a deal for 17 LNG carriers worth about $3.9 billion with HD Hyundai Heavy, kicking off the second phase of the shipbuilding program.

In addtion, Samsung Heavy also secured a large order to build 15 LNG carriers for about $3.45 billion and this order is also tied to the program.

Most Popular

Samsung Heavy cancels LNG carrier contract with Russia’s Zvezda

South Korean shipbuilding giant Samsung Heavy Industries has terminated contracts for 10 ice-class Arc7 LNG carriers and seven shuttle tankers with Russia's Zvezda.

Golden Pass LNG construction continues to advance

Energy giants QatarEnergy and ExxonMobil, along with their contractors, continue to advance construction on their massive Golden Pass LNG export facility in Texas.

Woodside inks non-binding LNG supply deal with Petronas

Australia's Woodside has signed a non-binding heads of agreement with Malaysia's Petronas to supply the latter with liquefied natural gas (LNG) from its global portfolio. The deal may include supplies from Woodside's Louisiana LNG project in the US.

More News Like This

Golden Pass LNG construction continues to advance

Energy giants QatarEnergy and ExxonMobil, along with their contractors, continue to advance construction on their massive Golden Pass LNG export facility in Texas.

HD Hyundai Heavy starts building Nakilat’s LNG carrier

South Korean shipbuilder HD Hyundai Heavy Industries has officially started building Nakilat’s first of 17 LNG carriers as part of an order placed last year.

QatarEnergy eyes major LNG trading expansion

State-owned LNG giant QatarEnergy aims to increase trading of non-Qatari physical LNG volumes to 30 to 40 million tons by 2030, according to Qatar’s energy minister and chief executive of QatarEneergy, Saad Sherida Al-Kaabi.

China’s Hudong-Zhonghua delivers its 50th LNG carrier

Chinese shipbuilder Hudong-Zhonghua has delivered its 50th liquefied natural gas (LNG) carrier.