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 million 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.

Most Popular

Delfin inks new deals for US FLNG project, eyes FID later this year

Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, is moving forward with the project by signing new deals with Siemens Energy, Samsung Heavy, and Black & Veatch.

Deutsche ReGas: Mukran LNG terminal hits record in Q2

German LNG terminal operator Deutsche ReGas claims that its FSRU-based LNG import facility in Mukran was the highest-performing LNG terminal in Germany in the second quarter of this year.

Ukraine’s Naftogaz to get another US LNG cargo from Orlen

Poland's Orlen will supply another US LNG cargo to Ukraine's Naftogaz, the fourth shipment as part of a deal signed earlier this year.

More News Like This

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

HD Hyundai Heavy tests BOG system on LNG-powered containership under construction

South Korean shipbuilder HD Hyundai Heavy has completed a test to verify the onshore recycling of boil-off gas (BOG) from an LNG dual-fuel container vessel currently under construction.

HD Hyundai Heavy scores LNG-powered containership order

South Korea's HD Hyundai Heavy Industries has secured an order to build eight LNG dual-fuel container vessels valued at about $1.76 billion.

GTT, HD Hyundai Heavy to advance LNG carrier design

French LNG containment firm GTT signed two joint development projects with South Korean shipbuilder HD Hyundai Heavy Industries, aimed at advancing the design of LNG carriers.