Hyundai Samho Signs $370mn LNG Carrier Contract

Hyundai Samho Heavy Industries, a unit of Hyundai Heavy Industries, has signed a $370mn contract to build two LNG carriers for Greece-based Consolidated Marine Management (CMM), it said November 26.

The 174,000m³ capacity carriers will be delivered 2021 onwards. 

Hyundai Samho said in 2018 it has won contracts to build 22 LNG carriers, about half of the 45 large LNG carriers ordered globally. The company said orders for LNG carriers have increased steadily owing to rise in global LNG cargo volumes.

So far this year, Hyundai Heavy Industries has won orders for a total of 139 vessels, worth $11.8bn, which is 90% of the target for the year.