HD Hyundai Heavy clinches $1 billion LNG carrier order

South Korean shipbuilder HD Hyundai Heavy Industries has won a contract worth approximately $1.02 billion to build four LNG carriers. This order is tied to a joint venture of Japan’s NYK and KKR-backed Ocean Yield with US LNG exporter Cheniere as the charterer of the vessels.

HD Hyundai Heavy said on Thursday that it will build the four LNG tankers for an owner in the Americas.

Hyundai Heavy will deliver the vessels by November 2029.

The order is valued at approximately 1.49 trillion won ($1.02 billion), or approximately $254 million per vessel.

HD Hyundai Heavy did not reveal any additional information regarding the new order.

In January, HD Hyundai Heavy Industries also won a contract to build four LNG carriers worth approximately $1.04 billion.

Under this order, HD Hyundai Heavy will build four 200,000-cbm LNG tankers for an owner in the Americas and deliver them by March 2029.

Both of these orders are likely related to NYK Line and KKR-backed Ocean Yield.

These vessels will serve charter deals with Cheniere.

Ocean Yield recently announced that Cheniere has decided to exercise its option to increase the number of chartered LNG vessels to eight.

The firm said that Cheniere Marketing International has exercised the option to increase the number of vessels on “substantially similar terms” following an announcement in December 2025.

Ocean Yield said the optional vessels will be built in South Korea for deliveries in 2029.

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