AsiaAustralia and OceaniaContracts and Tenders

Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside

By LNG Prime Staff
Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside
For illustration only (Image: Woodside)

South Korea’s Hyundai Glovis said it would charter one newbuild LNG carrier for 10 years to Australian LNG player Woodside.

The charter deal also includes an option for additional five years, Hyundai Glovis said in a statement on Tuesday.

With this, the South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group enters the LNG transportation business.

Hyundai Glovis said that both its CEO Kim Jung-Hoon and Woodside’s chief Meg O’Neill attended the online signing ceremony on Tuesday.

Hyundai Glovis is the first shipping company in Asia to sign a contract with Woodside, according to the statement.

To fulfill the contract, Hyundai Glovis has launched a new ship construction project which should be complete in the second half of 2024, the company said, but it did not provide any additional information.

Following delivery, the LNG carrier would transport LNG produced in Australia to global customers, including in Northeast Asia.

Besides LNG, Hyundai Glovis said it would cooperate in hydrogen shipping with Woodside as well.

Brokers recently reported that Hyundai Glovis had ordered one LNG carrier, backed by a Woodside charter, at South Korea’s Hyundai Samho Heavy Industries.

HSHI’s parent KSOE said the deal for the 174,000-cbm LNG carrier had a price tag of about $218 million with delivery scheduled by August 2024.

Most Popular

LNG Terminals

Coastal Bend LNG plans large Texas export plant

Coastal Bend LNG said it had initiated development of a 22.5 million ton per annum (mtpa) natural gas liquefaction and export facility on the Texas Gulf Coast.
Contracts and Tenders

Golden Pass LNG contractors agree terms for second and third train

Japan's Chiyoda and US-based McDermott have signed a binding term sheet with Golden Pass LNG, a joint venture owned by QatarEnergy and ExxonMobil, to complete the construction of the second and third liquefaction units at the giant LNG export plant in Texas.
Vessels

HD Hyundai Samho scores contract to build LNG carrier quartet

South Korea’s HD Hyundai Samho has secured an order to build four liquefied natural gas (LNG) carriers for about $1.03 billion.

More News Like This

Contracts and Tenders

Woodside, Stonepeak wrap up Louisiana LNG stake sale

Australian LNG player Woodside has completed the previously announced sell-down of a 40 percent stake in its Louisiana LNG project to US private equity firm Stonepeak.
Contracts and Tenders

Woodside, Jera ink non-binding winter LNG supply deal

A unit of Australian LNG player Woodside and Japan's Jera have entered into a non-binding heads of agreement for the sale and purchase of LNG cargoes during Japan’s peak winter period.
Contracts and Tenders

Woodside inks non-binding LNG supply deal with Petronas

Australia's Woodside has signed a non-binding heads of agreement with Malaysia's Petronas to supply the latter with liquefied natural gas (LNG) from its global portfolio. The deal may include supplies from Woodside's Louisiana LNG project in the US.
LNG Terminals

Woodside’s Louisiana LNG gets FERC extension

Woodside has secured an additional eight-month extension from the US FERC to complete and put into service its Louisiana LNG export facility.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA