Korea's HHI Shows Diverse LNG Carrier Models at Gastech
Hyundai Heavy Industries (HHI), claimed to be the world’s biggest shipbuilder, and the only one in Korea capable of constructing both Membrane type and Moss type LNG carriers, informs it will exhibit at the upcoming Gastech 2014 show in Gyeonggi Province, South Korea. The shipbuilder says it has taken the lead in introducing cutting-edge LNG-related ships, and developing independent LNG storage system and technology. It will show models of an LNG carrier, an LNG FPSO and an LNG FSRU at the event.
Floating Production Systems: A Big Opportunity for Shipyards
Since the beginning of this year, orders have been placed for 17 floating production systems. The combined value of the fabrication contracts exceeds $16 billion. By year end there will likely be another five to eight contracts awarded and the overall contract value for the year will exceed $20 billion. Stated in terms of conventional ships, fabrication of floating production systems in 2013 will equate to orders for 220 VLCCs, 360 Suezmax tankers or 800 Panamax bulk carriers. In other words, it is a big market. Yet relatively few shipbuilders are active in this sector.
Hyundai Heavy Develops FLNG Model
Hyundai Heavy Industries, the world’s biggest shipbuilder and offshore facilities contractor announced today that the Company completed developing its own Hyundai FLNG (Floating Liquefied Natural Gas Plant) model in association with Linde AG, an international industrial gases and engineering company of Germany. The Hyundai FLNG has an annual production capacity of 2.5 million tons of LNG and can store about 193,800 m3 LNG with its compact size of 355 m in length, 70 m width and 35 m in height.
