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

Glenfarne’s Texas LNG seeks DOE extension

US energy firm Glenfarne is seeking an extension from the US Department of Energy to extend the non-FTA export start deadline for its planned 4 mtpa Texas LNG export terminal in the port of Brownsville.
Contracts and Tenders

Petrovietnam units plan new LNG-to-power project

PV Power and PV Gas, units of state-owned Petrovietnam, signed cooperation agreements to secure gas supplies for power plants in southwestern Vietnam and explore developing an integrated liquefied natural gas (LNG) project in the northern port city of Hai Phong.
Contracts and Tenders

China’s GCL inks deal for second phase of Ogaden LNG project in Ethiopia

China’s GCL has signed an agreement with China Jurong Group to advance the second phase of its Ogaden LNG project in Ethiopia’s Somali region.

More News Like This

LNG Terminals

Woodside reports strong LNG performance in Q3

Australian LNG player Woodside reported strong LNG performance in the third quarter this year due to higher prices, and it still expects the first LNG cargo from the Scarborough project in the fourth quarter.
LNG Terminals

Woodside resumes Scarborough commissioning work after protests

Australian LNG player Woodside has resumed commissioning activities at the Scarborough floating production unit (FPU) after Greenpeace activists occupied the FPU located offshore Western Australia, a Woodside spokesperson told LNG Prime on Monday.
LNG as Fuel

GSI delivers new LNG-fueled PCTC to HMM and Hyundai Glovis

China’s Guangzhou Shipyard International has handed over a new LNG-fueled pure car and truck carrier to South Korea's HMM and Hyundai Glovis.
LNG Terminals

First Louisiana LNG tank taking shape

Australian LNG player Woodside continues to make progress on the first phase of its Louisiana LNG export terminal, including the first 235,000-cbm storage tank.