Yang Ming inks deal with Hyundai Heavy for five LNG-powered containerships

Taiwan’s Yang Ming Marine Transport has signed a shipbuilding deal with South Korea’s HD Hyundai Heavy Industries for the construction of five LNG-powered containerships.

LNG Prime reported on May 22, citing shipbuilding sources and brokers, that Yang Ming picked Hyundai Heavy to build the five LNG dual-fuel containerships.

The two firms signed the deal for five 15,500-teu vessels on May 31, according to a statement by Yang Ming.

These new vessels will join Yang Ming’s fleet in 2026, as part of its mid to long-term fleet plan, the firm said.

Yang Ming to pay $937 million for the vessels

Yang Ming has not revealed the price tag of the deal, but HD Korea Shipbuilding & Offshore Engineering announced the order in a stock exchange on Thursday.

According to Hyundai Heavy’s parent, Yang Ming will pay about $937 million for the five vessels, or $187 per ship.

Yang Ming said the vessels will feature high-pressure LNG dual fuel main engine and ballast water treatment system to meet the latest environmental regulations.

In addition, these vessels will have an advanced integrated system for navigational information and operation monitoring, as well as broadband maritime satellite system, it said.

Yang Ming’s current operating fleet comprises 94 vessels, with a capacity of about 715,000 teu.

With these five LNG dual-fuel container vessels, Yang Ming will optimize its fleet, reduce operating costs, and also improve carbon emission reduction, it said.

- Advertisements -

Most Popular

DNV: eight LNG-powered vessels ordered in September

Classification society DNV has added eight LNG-powered ships to its Alternative Fuels Insight platform in September, 13 ships less...

MET opens Singapore office as part of LNG expansion plans

Switzerland-based energy trader MET Group has set up an office in Singapore as it works to expand its liquefied...

PetroVietnam Gas says to launch Thi Vai LNG import terminal in October

PetroVietnam Gas, a unit of state-owned PetroVietnam, said it will officially launch its Thi Vai LNG import terminal, the...

More News Like This

QatarEnergy, HD Hyundai Heavy ink $3.9 billion deal for 17 LNG carriers

LNG giant QatarEnergy has signed a shipbuilding deal worth about $3.9 billion with South Korea's HD Hyundai Heavy Industries...

QatarEnergy eyes orders for giant LNG carriers

State-owned LNG giant QatarEnergy is planning a major order of Q-Max LNG carriers at yards in South Korea and...

KR OKs HD Hyundai Heavy’s LNG-powered VLGC design

South Korean shipbuilding giant HD Hyundai Heavy Industries has secured an approval in principle from compatriot classification society Korean...

Hyundai Heavy to build LNG carrier duo for about $530 million

South Korean shipbuilder HD Hyundai Heavy Industries has won a contract to build two liquefied natural gas (LNG) carriers...