H-Line Orders LNG bulkers at Samho

Hyundai Samho Heavy Industries Co (HSHI), the Korea supplier of ship, tanker ship, bulk carriers ship, container ship, LNG ship, said it has clinched a deal to build two bulkers fueled by liquefied natural gas (LNG).

According to a Yonhap report, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will build two 180,000-ton vessels, which will be used on a route between South Korea and Australia starting in 2022.

HSHI has not revealed the value of the deal, it said.

According to the report, this is the second time that H-Line has placed an order for LNG-fueled vessels with Hyundai Samho Heavy, an affiliate of industry leader Hyundai Heavy Industries Co. Last October, the shipper placed an order worth 140 billion won for two LNG-fueled bulkers.

With the latest order, there will be seven LNG-powered vessels in South Korea, the report said.

Demand for LNG-fueled vessels is expected rise due to a new International Maritime Organization (IMO) regulation. The IMO will lower the sulfur content cap for marine fuels from 3.5 percent to 0.5 percent in 2020.