Hyundai Samho to build LNG carrier duo for about $506 million

Hyundai Samho Heavy Industries has secured an order to build two LNG carriers for about $506 million, according to Korea Shipbuilding & Offshore Engineering.

KSOE said on Thursday its unit Hyundai Samho would build the two vessels for 626.7 billion won ($506 million) or some $253 million per vessel, which is a very high price.

The shipbuilder aims to deliver the ships to an undisclosed shipper in Oceania by November 2026, KSOE said without revealing further information.

This order comes just two days after KSOE revealed an order under which Hyundai Heavy will build three LNG carriers tied to Greece’s Dynagas, the first LNG carrier order in 2023.

Capital Gas behind the order?

Shipbuilding sources told LNG Prime that Greece’s Capital Gas, led by Evangelos Marinakis, is most likely behind this order for two 174,000-cbm LNG carriers.

Capital Gas ordered two 174,000-cbm LNG carriers at Hyundai Samho in June last year for about $240 million per vessel.

In September 2021, Capital Gas took delivery of the sixth newbuild LNG carrier, Asklipios, chartered by Cheniere.

New York-listed Capital Product Partners bought all of these six LNG carriers as well as the 174,000-cbm, Asterix I, scheduled for delivery this year.

Besides these seven LNG carriers, Capital Gas has seven more vessels on order in South Korea scheduled for delivery between 2023 and 2026, not including these two new LNG carriers, according to its website.

Last year, Capital Gas also bought the 138,000-cbm LNG carrier Trader, previously known as British Trader. Capital Gas renamed this vessel Trader II.

In addition to this vessel, brokers also reported that Capital Gas recently bought MISC’s 2002-built 137,000-cbm LNG carrier, Puteri Intan Satu, for about $30-$35 million.

Most Popular

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

NextDecade, Jera seal 20-year LNG SPA

Japan's Jera has signed a 20-year deal to buy liquefied natural gas from the planned fifth train at NextDecade's Rio Grande LNG facility in Texas.

Australia’s Viva Energy gets OK for Geelong LNG import terminal

Australia’s Viva Energy has secured approval from the Victorian government for its proposed FSRU-based LNG import terminal in Geelong, Australia.

More News Like This

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

CCEC secures LNG carrier charter deals

Capital Clean Energy Carriers (CCEC) has secured employment for two of its 174,000-cbm LNG carriers, which are currently under construction in South Korea.

EPS LNG-powered tankers to feature HD KSOE’s pumps

Singapore-based Eastern Pacific Shipping (EPS) has joined forces with South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to install the latter’s pumps and vaporizer skids on LNG-powered Aframax tankers.

HD Hyundai Samho secures LNG-powered containership order

South Korea’s HD Hyundai Samho has secured an order to build LNG-fueled container vessels.