South Korea’s Hyundai Glovis to add more LNG-powered PCTCs to its fleet

South Korea’s Hyundai Glovis has joined forces with Korea Ocean Business Corporation (KOBC) to add four more LNG dual-fuel PCTCs with a capacity of 10,800 ceu to its fleet.

Hyundai Glovis said in a statement on February 7 that it has signed a deal with state-owned KOBC related to the construction of the LNG-powered PCTCs as part of its plans to have 28 LNG-powered PCTCs in its fleet by 2027.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group said that the vessels will be owned by KOBC and chartered by Hyundai Glovis.

Hyundai Glovis said the vessels will be delivered in 2027 but it did not say which yard(s) will build the vessels.

Back in October last year, Hyundai Glovis revealed plans to order 12 LNG dual-fuel car carriers worth about $1.84 billion.

Hyundai Glovis said these LNG dual-fuel vessels are the world’s largest PCTCs.

China orders

Seaspan and Hyundai Glovis joined forces in December last year to order six LNG-powered PCTCs from China’s Shanghai Waigaoqiao Shipbuilding (SWS).

The deal for the PCTCs with a capacity of 10,800 ceu also includes an option for four additional vessels.

Besides this deal, South Korea’s HMM and Hyundai Glovis ordered six LNG-fueled PCTCs from China’s Guangzhou Shipyard International (GSI).

This deal also includes an option for four additional vessels.

SWS and GSI are now each building six LNG-powered vessels, and all of the vessels will serve charter deals with Hyundai Glovis.

Besides LNG dual-fuel propulsion, the PCTCs will be ammonia and methanol-ready.

CSSC Holdings previously said in a stock exchange that both the GSI and SWS deals are worth $1.46 billion, or some $723 million per contract.

Hyundai Glovis and KOBC would likely order these four new vessels in China as well.

LNG Prime could not confirm by the the time this article was published whether the contracts for the four new vessels have already been signed.

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