AsiaAustralia and OceaniaContracts and Tenders

Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside

By LNG Prime Staff
Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside
For illustration only (Image: Woodside)

South Korea’s Hyundai Glovis said it would charter one newbuild LNG carrier for 10 years to Australian LNG player Woodside.

The charter deal also includes an option for additional five years, Hyundai Glovis said in a statement on Tuesday.

With this, the South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group enters the LNG transportation business.

Hyundai Glovis said that both its CEO Kim Jung-Hoon and Woodside’s chief Meg O’Neill attended the online signing ceremony on Tuesday.

Hyundai Glovis is the first shipping company in Asia to sign a contract with Woodside, according to the statement.

To fulfill the contract, Hyundai Glovis has launched a new ship construction project which should be complete in the second half of 2024, the company said, but it did not provide any additional information.

Following delivery, the LNG carrier would transport LNG produced in Australia to global customers, including in Northeast Asia.

Besides LNG, Hyundai Glovis said it would cooperate in hydrogen shipping with Woodside as well.

Brokers recently reported that Hyundai Glovis had ordered one LNG carrier, backed by a Woodside charter, at South Korea’s Hyundai Samho Heavy Industries.

HSHI’s parent KSOE said the deal for the 174,000-cbm LNG carrier had a price tag of about $218 million with delivery scheduled by August 2024.

Most Popular

LNG Terminals

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.
Vessels

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.
Contracts and Tenders

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Contracts and Tenders

Great Lakes clinches Louisiana LNG dredging gig

US firm Great Lakes Dredge & Dock has secured a dredging contract from compatriot Bechtel for dredging work on Woodside's Louisiana LNG project.
Contracts and Tenders

Woodside, Stonepeak wrap up Louisiana LNG stake sale

Australian LNG player Woodside has completed the previously announced sell-down of a 40 percent stake in its Louisiana LNG project to US private equity firm Stonepeak.
Contracts and Tenders

Woodside, Jera ink non-binding winter LNG supply deal

A unit of Australian LNG player Woodside and Japan's Jera have entered into a non-binding heads of agreement for the sale and purchase of LNG cargoes during Japan’s peak winter period.
Contracts and Tenders

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.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA