Marine Link
Monday, October 24, 2016

Hyundai Heavy Wins Orders Worth $1.1 Billion

February 14, 2012

177,000 cbm LNG Carrier Abdelkader.

177,000 cbm LNG Carrier Abdelkader.

Hyundai Heavy Industries, the world’s biggest shipbuilder, today announced the Company had won orders for 4 liquefied natural gas (LNGLF) carriers and 1 LNG floating storage regasification unit worth USD 1.1 billion.


Hyundai Heavy won orders to build two 162,000 cbm LNG carriers for Golar LNG (GLNG) of Norway on February 10 and two same-class ships for an unnamed European shipowner on February 8. The contract with Golar LNG includes an option exercisable by the Norwegian company for two additional same-class LNG carriers. LNG carriers for Golar LNG will be built by Hyundai Samho Heavy Industries, a Hyundai Heavy affiliate. These membrane-type LNG carriers, scheduled to be delivered between the second quarter of 2014 and the first half of 2015, will feature the Dual Fuel Diesel Engine System (DFDE) which allows the ships to run on oil fuel or natural gas.


In addition, Hyundai Heavy won an order to build a third LNG Floating Storage Regasification Unit (FSRU) for Hoegh on February 13. The contract for the LNG FSRU is an option exercised by Hoegh from the original contract signed in June 2011. The 170,000 cbm LNG FSRU is scheduled to be delivered by the second quarter of 2014.


LNG FSRU receive liquefied natural gas from offloading LNG carriers. The installed regasification system provides gas send-out through flexible risers and pipelines to shore. LNG FSRU take a year less and cost half as much as an onshore LNG terminal to complete. Since the first LNG carrier order in 1991, which was also the first LNG carrier built in Korea, Hyundai Heavy has built 40 ships for liquefied natural gas.


Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News