Hyundai Heavy $600M Order for LNG Carriers

Press Release
Wednesday, June 01, 2011
* Photo: Abdelkader, LNG Carrier Hyundai Heavy built and selected as one of the world’s best ships in 2010.

Hyundai Heavy Industries, the world’s largest shipbuilder, won a $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd.

These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions, increasing demand for LNG as an alternative energy source after Japanese nuclear crisis, and price competitiveness of LNG in comparison with oil prices, Hyundai Heavy expects to see more liquefied natural gas carrier orders in the future.

As a part of the Company’s long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs, Hyundai Heavy has been actively developing a special welding system that can work on the thick aluminum plates used for the LNG tanks.

Winning this order brings Hyundai Heavy’s total new orders in shipbuilding and offshore & engineering divisions so far this year to 42 ships worth of USD 10.5 billion, or 53% of the new order target of USD 19.8 billion.

Source: HHI

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Teekay LNG Partners Declare Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended September 30, 2015. The

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative

Epic Gas Secured Credit Facility for 7 Newbuilds

Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.   The

Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0972 sec (10 req/sec)