South Korean owner orders LNG fueled bulker duo at Hyundai Samho

Hyundai Samho

OCTOBER 12, 2018 — South Korea’s H-Line Shipping Co. has placed an order worth about US$142 million for two LNG fueled bulkers with shipbuilder Hyundai Samho Heavy Industries Co.

The 180,000 dwt vessels will operate on a route between South Korea and Australia starting from 2021 and will the first LNG fueled Korean ships to operate on an international shipping route LNG ships in South Korea to sail on a foreign shipping route, according to the Ministry of Oceans and Fisheries,

The government is providing funding worth 9.6 billion won (about $8.5 million) for the project.

The funding is being awarded through the Ministry of Oceans and Fisheries’ eco-friendly ship conversion support program which provides subsidies equivalent to 5-10% of a newbuild vessel’s price when it replaces an older vessel aged 20 years or more with an eco-friendly vessel.