Hyundai Heavy Clinches USD 189 Mn LNG Carrier Order

Hyundai HeavyIllustration. Source: Flickr – under the CC BY 2.0 license; Image by: Jasmine Halki

South Korean biggest shipbuilder Hyundai Heavy Industries (HHI) has secured an order for the construction of an LNG carrier. 

Placed by an unnamed shipowner from Oceania, the order amounts to KRW 228.9 billion (USD 188.8 million), HHI said in a stock exchange filing on September 2.

The 174,000 cbm LNG carrier is scheduled to be delivered by the end of January 2022.

Hyundai Heavy closed the second quarter of this year with a net loss of KRW 233.7 billion, compared to a profit of KRW 182.8 billion in the corresponding period a year earlier.

The loss was attributed to higher steel plate prices and the one-off costs of a retirement program for seven hundreds of HHI’s employees.

In addition, the result was affected by a drop in global ship orders and the US-China trade tensions.

World Maritime News

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