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.)

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