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    Hyundai Heavy Bags LNG Carrier Orders

Summary

The contract to build two carriers is worth $380mn.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Security of Supply, Corporate, Import/Export, News By Country, South Korea

Hyundai Heavy Bags LNG Carrier Orders

South Korean shipbuilder Hyundai Heavy Industries has received a order to build two extra large LNG carriers, it said May 24. With this order, the company has won contracts for a total of five LNG carriers this year.

The contract to build two carriers, with capacity of 180,00 m3 each, is worth $380mn and has been awarded by European companies, Hyundai Heavy said with identifying the companies. The LNG carriers will be delivered from 2022 onwards, and will be built at Hyundai Heavy Industries' Ulsan Yard. 
 
Hyundai Heavy said that demand for LNG vessels is expected to grow owing to rising US LNG exports, China's demand for LNG and LNG development projects in Qatar. 

A company official said that Hyundai Heavy is negotiating orders for more LNG carriers and LNG bunkering vessels.