Hyundai Samho to build two LNG carriers for about $450 million

Hyundai Samho Heavy Industries has won a contract to build two liquefied natural gas (LNG) carriers, according to its parent Korea Shipbuilding & Offshore Engineering.

KSOE said that the deal has a price tag of about 545.8 billion won ($450 million).

HSHI will deliver the LNG carriers by the first half of 2025 to an unidentified European shipowner.

KSOE did not reveal any additional information regarding the LNG carriers which probably have a capacity of 174,000 cbm.

Brokers reported after this announcement that Norway’s Knutsen and Poland’s dominant gas firm and LNG importer, PGNiG, were behind this order.

PGNiG has previously signed charter deals with Knutsen for a total of four LNG carriers to ship its contracted volumes from the US.

This year HSHI won several orders for LNG-powered containerships and LNG carriers.

In total, KSOE and its units won orders for 70 ships worth about $7.1 billion.

KSOE has set a target for this year of $17.4 billion, compared to $14.9 billion last year.

The shipbuilder secured in total $22.8 billion worth of orders during 2021.

(Article updated on April 6, 2022, to say that Knutsen and PGNiG were behind the order, according to brokers.)

Most Popular

Woodside names Sarah Bairstow as Louisiana LNG head

Australian LNG player Woodside has appointed Sarah Bairstow to lead its Louisiana LNG project.

Cheniere to start site preparation for two more Corpus Christi LNG trains

US LNG exporting giant Cheniere is seeking approval from the US FERC to start site preparation activities for two more midscale trains at its Corpus Christi LNG plant in Texas.

BP, partners ship first Tortue LNG cargo

UK-based energy giant BP and its partners have shipped the first liquefied natural gas (LNG) cargo produced at the Greater Tortue Ahmeyim FLNG project, located offshore Mauritania and Senegal, according to shipping data.

More News Like This

Wan Hai Lines makes LNG fuel switch for eight containerships

Taiwan's Wan Hai Lines has decided to change an order placed for methanol-ready containerships in South Korea to enable the vessels to run on LNG fuel, according to shipbuilding sources.

HD Hyundai Samho clinches $262 million LNG carrier order

South Korea’s HD Hyundai Samho has secured an order to build one liquefied natural gas (LNG) carrier for about $262 million.

Knutsen, Orlen name LNG carrier duo in South Korea

Norway’s Knutsen and Poland’s Orlen named two newbuild liquefied natural gas (LNG) carriers in South Korea.

HD Hyundai Samho kicks off work on Nakilat’s LNG carrier

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