Hyundai Heavy and BW Maritime sign $400 million LNG ship contract

hyundailngorderSouth Korea's, Hyundai Heavy Industries, the world's largest shipbuilder, has won a $400 million order to build two 155,000 cu.m LNG carriers for Singapore-based BW Maritime.

Mr. Kim Oi-hyun, senior executive vice president and CEO of Hyundai Heavy and Mr. Clarence Lui, BW Maritime CFO & executive vice president, signed the contract,  which also includes an option to build two same class LNG ships.

The membrane-type LNG carriers, measuring 228 m in length, 44.2 m in width and 26 m in depth, are scheduled for delivery in the second half of 2014 and the first half of 2015. They will feature the Dual Fuel Diesel Engine System (DFDE), allowing them to operate on oil fuel or natural gas.

Hyundai Heavy has won eight LNG carrier orders (including two received by its affiliated company, Hyundai Samho Heavy Industries) and two LNG-FSRU (floating storage regasification unit) orders this year.

September 19. 2011

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