Hyundai LNG Shipping Orders Newbuild

South Korean shipowner Hyundai LNG Shipping (HLS) has placed an order for the construction of one very large gas carrier (VLGC) at compatriot shipyard Hyundai Heavy Industries (HHI).

The South Korean owner of 10 LNG Carriers said in a press release that the 84,600 cbm gas carrier is scheduled for delivery in Q3 2020 for the employment of seven year (+ option) time charter with a global energy company.

KyuBong Lee, CEO of HLS, said “We are very grateful to build meaningful relationship with a respectable charterer through long-term contract and to build the ship at the world best shipping yard. All of our employees will do our best to provide best shipping solution which will meet the customer’s needs in a very safe and reliable operation.”

HLS is the first LNG shipping company in Korea who started its first operation for Kogas twenty five years ago, and currently delivers about 28% of Korea’s import volume of FOB contracted LNG. Based on its long operation knowhow, the Company maintains its appetite for further growth in global market.