Hyundai Samho wins order to build two LNG carriers for about $519 million

South Korea’s Hyundai Samho Heavy Industries will build two liquefied natural gas (LNG) carriers for about $519 million under a new order revealed on Wednesday.

HD Korea Shipbuilding & Offshore Engineering said in a filling to the stock exchange that its unit Hyundai Samho will build the two LNG tankers for an owner in Oceania.

Hyundai Samho will deliver the two LNG tankers by March 2027, the company said, but it did not provide any additional information.

The price of 674.9 billion won ($519 million) or some $259.5 million per vessel is a record price for one 174,000-cbm LNG carrier.

In 2023, HD Korea Shipbuilding and its units won orders for 52 vessels, including ten LNG carriers, worth some $7.09 billion.

The group achieved about 45 percent of its annual order target of $15.7 billion.

Capital Gas

Shipbuilding sources told LNG Prime on Wednesday that Greece’s Capital Gas is behind this order for the two new LNG carriers.

In January, Hyundai Samho also secured a contract from the LNG shipper led by Evangelos Marinakis to build two LNG carriers and deliver them by November 2026.

Each of these LNG carriers has a price tag of some $253 million.

New York-listed Capital Product Partners recently took delivery of the seventh X-DF LNG carrier managed by Capital Gas.

Besides these ships, Capital Gas has nine 174,000-cbm ME-GA vessels on order in South Korea scheduled for delivery between 2023 and 2026, not including these two new LNG carriers, according to its website.

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