Hanwha Ocean to build FSRU for $413 million

Hanwha Ocean revealed the order on Wednesday, saying it would build the unit for an unidentified Asian owner.

The delivery of the FSRU is scheduled to take place by October 2027.

Sources told LNG Prime that Japan’s MOL is the owner behind the order and that the FSRU would serve Singapore LNG (SLNG).

The sources said that the FSRU would have a capacity of 200,000 cbm.

Last year, Singapore LNG, the operator of the country’s first LNG import terminal on Jurong Island, secured approval from the Singapore government to develop and operate the country’s second LNG import facility.

State-owned Singapore LNG said at the time it was studying an FSRU concept for the second terminal.

The price of $413 million is the highest ever for a single FSRU.

Earlier this year, MOL booked one 174,000-cbm FSRU for the Gdansk project at HD Hyundai Heavy Industries for about $364 million, while US firm Exclereate booked a newbuild FSRU at HHI in October 2022 and this deal is worth about $332 million.

Including this FSRU order, Hanwha Ocean has won orders this year for 31 vessels worth about $6.1 billion.

This includes 12 LNG carriers as part of the giant QatarEnergy shipbuilding program and four LNG carriers for Adnoc L&S.

Last year, the shipbuilder secured orders worth $3.5 billion.