Hyundai Heavy Wins USD 600 Mn Worth of Gas, Tanker Orders

Hyundai Heavy IndustriesImage Courtesy: Flickr Jasmine Halki under CC BY 2.0 license

South Korea’s Hyundai Heavy Industries has secured orders for five new gas and crude carriers, with a value of around USD 600 million, in recent weeks.

The shipbuilder said that the units were ordered by European and Asian ship owners and include three gas carriers and two crude oil carriers.

An undisclosed Greek shipping company recently signed a contract for the construction of a 174,000 cbm LNG carrier. At the end of March, Hyundai Heavy reached agreements to build one LNG carrier for a Japanese owner, one LPG carrier for a compatriot company, and two crude oil carriers for Greek shipping firms.

Furthermore, Hyundai Heavy said it expects to receive additional orders for large-scale LNG carriers during 2019 on the back of an increasing LNG orderbook amid recent tightening of environmental regulations.

Worldwide orders reached 32.2 million CGT last year, up 14 percent from 28.1 million CGT recorded in 2017, HHI cited data from Clarksons.

This trend is expected to continue in the future, and the global order volume in 2023 is expected to reach 44.6 million CGT, the company continued. In 2019, the development of LNG projects in Russia and Qatar is expected to be will be full-fledged.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

The 5th CWC China LNG & Gas International Summit

Gain Access to Global LNG & Gas Decision Makers in China

Take a peek inside our 2019 Introductory Brochure and stay on top of this rapidly developing market.

See who is already working with us this year as Speakers, Sponsors and Partners – download your Preview Brochure today and meet them in Beijing on 15-16 October 2019.

As the world’s second largest LNG importer, China will remain the biggest contributor to global LNG demand growth in the foreseeable future. Network with global LNG & gas decision makers, buyers, NOCs and Government Officials at the industry’s leading international event in China.

More info

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >