LNG ship orders give HHI order book a year-end boost

HHI LNGDECEMBER 26, 2012  — South Korea's Hyundai Heavy Industries (HHI), the world's largest shipbuilder, reports that it won an order for one 155,000 cu.m liquefied natural gas carrier worth $210 million from Brunei Gas on December 21.

Affiliated shipyard Hyundai Samho Heavy Industries (HSHI) won an order for four 174,000 cu.m LNG carriers worth $840 million from Maran Gas on December 20. The contract with Maran Gas includes an option exercisable by the owner for two additional same-class LNG carriers.

These membrane-type LNG carriers, scheduled to be delivered between 2015 and 2016, will feature the Dual Fuel Diesel Engine System (DFDE) which allows the ships to run on diesel fuel or natural gas.

Since its first LNG carrier order in 1991, Hyundai Heavy has built 40 ships for liquefied natural gas. Hyundai Samho Heavy has won orders for 10 LNG vessels since 2011.

Want more? Subscribe now!

News from NASDAQ