Korean Shipyard Wins LNG Carrier Contracts

Hyundai Heavy Industries (HHI) & its affiliated shipyard obtain orders totalling US$1.05 billion to build five liquefied natural gas (LNG) carriers.

One of the LNG carriers of 155,000-cubic-metre capacity and worth US$210 million is for Brunei Gas, reports the Oman Daily Observer.

HHI's affiliated shipyard, Hyundai Samho Heavy Industries, also won a contract for four 174,000-cubic-metre LNG carriers valued at $840 million from Greece’s Maran Gas. The contract included an option exercisable by the owner for two additional same-class LNG carriers.

The LNG carriers, scheduled to be delivered between 2015 and 2016, will feature dual fuel diesel engine system (DFDE) which allows the ships to run either on diesel fuel or natural gas.

Since its first LNG carrier order in 1991, Hyundai Heavy Industries has built 40 such carriers while Hyundai Samho Heavy has won orders for 10 LNG vessels since 2011.

Source: Oman Daily Observer