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HD Hyundai Heavy awards new LNG tank gig to GTT

By LNG Prime Staff
HD Hyundai Heavy awards new LNG tank gig to GTT
For illustration only (Image: HD Hyundai Heavy)

South Korean shipbuilder HD Hyundai Heavy Industries has awarded a new contract to French LNG containment giant GTT.

According to a statement by GTT, the firm has secured the contract for the tank design of two new 174,000-cbm LNG carriers in the second quarter of 2024.

The tanks will be fitted with GTT’s Mark III Flex membrane containment system, while delivery of the LNG carriers is scheduled between the first and second quarters of 2028.

HD Hyundai will build the vessels for a European ship-owner, GTT said without providing further details.

This order could be related to an announcement by HD Hyundai Heavy’s parent HD KSOE on May 3.

HD KSOE said that HD Hyundai Heavy will build two 174,000-cbm LNG tankers for an owner in Africa for about $532 million or per vessel, which is the probably the highest price for a single 174,000-cbm LNG carrier for the shipbuilder.

Shipbuilding sources told LNG Prime at the time that Greece’s Evalend Shipping was behind this order.

Hyundai Heavy won an order worth about $530 million for two LNG carriers from Evalend in August 2023, marking the latter’s entry into the LNG sector, and another order for two LNG carriers worth about $530 million in November 2023.

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