Hyundai Heavy Industries bags $1.13 bn LNG carrier orders in Europe, Asia

South Korea’s Hyundai Heavy Industries Group on Thursday has successfully bagged a combined $1.13 billion orders to build six units of liquefied natural gas (LNG) carriers in Europe and Asia.

The orders will be carried out dockyards of Hyundai Samho Heavy Industries and Hyundai Heavy Industries. Four will be delivered to Europe and two to Asia starting mid-2022.

The builders will apply a dual fuel engine for the vessels to improve the fuel efficiency and reduce the greenhouse gas emissions.

Hyundai Heavy Industries Group clinched a combined $1.7 billion deals for 14 vessels in just four days of the week – two LNG carriers, two crude carriers and one product carrier in Japan and Greece on Monday and three shuttle tankers in Asia on Wednesday.

“Global sea carriers are expanding ship orders that would meet the new environmental regulations set by the International Maritime Organization (IMO),” said a group official, adding that “it is now in talks with many other clients for additional deals including one for two LNG carriers set to be closed this week.”

Hyundai Heavy Industries Group this year has attracted a total of $11.3 billion orders for 125 ships, taking up 71 percent of its yearly target of $15.9 billion for 2019.
Source: Pulse