HD Hyundai Heavy to build FSRU, LNG carrier

South Korean shipbuilder HD Hyundai Heavy Industries has won contracts worth approximately $574 million to build one floating storage and regasification unit (FSRU) and one liquefied natural gas (LNG) carrier.

HD Hyundai Heavy said on Wednesday that it will build one LNG FSRU for an unidentified owner in Asia.

The unit is scheduled for delivery by May 2029.

HD Hyundai Heavy said the contract is worth 492.8 billion won, or approximately $320 million.

The shipbuilder did not provide further details.

Shipbuilding sources told LNG Prime that BW LNG, a unit of Singapore-based shipping giant BW, is behind this FSRU order.

The FSRU is expected to have a storage capacity of approximately 170,000-174,000 cbm.

BW LNG currently has four FSRUs in its fleet: the 137,000-cbm BW Tatiana, the 162,500-cbm BW Batangas, the 170,000-cbm BW Integrity, and the 173,400-cbm BW Magna.

Moreover, the shipbuilder said that it will build one LNG carrier for an unidentified owner in Oceania.

HD Hyundai Heavy will deliver the vessel by January 2029.

This contract is worth $392.2 billion won, or approximately $254 million.

LNG Prime could not immediately identify the owner behind the LNG carrier order.

Including these orders, HD Hyundai Heavy won 12 LNG carriers and 1 FSRU this year.

This includes the most recent order for two LNG carriers tied to European alternative asset management platform Hayfin and eight LNG carriers ordered by Japan’s NYK and KKR-backed Ocean Yield for charter to US LNG exporter Cheniere.

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