According to a social media post by PaxOcean, the deal was signed in Batam, Indonesia, on December 25, 2024.
“This partnership embodies a shared vision to leverage our combined strengths, enhance operational efficiency, and deliver exceptional value to our clients in the LNG sector,” PaxOcean said.
PaxOcean said the agreement lays the foundation for a deeper, more strategic alliance.
However, the firm did not provide any further details regarding the deal.
A post by PaxOcean shows that the company delivered the 2000-built 137,415-cbm Moss-type LNG carrier, Hyundai Cosmopia, to Hyundai LNG Shipping.
PaxOcean Batam completed the project.
The company owns and operates five shipyards located in Singapore, China, and Indonesia.
In 2022, PaxOcean signed a technical service agreement with French LNG containment giant GTT, enabling it to repair LNG carriers at its yards in Batam.
The agreement enabled the firm to expand its repair scope by providing membrane tank maintenance and servicing of LNG carriers in PaxOcean Batam.
This is the first Indonesian yard approved by GTT.
Hyundai LNG Shipping fleet
Prior to this deal with PaxOcean, Hyundai LNG Shipping awarded a contract last year to Singapore’s Seatrium to repair and upgrade its LNG carriers.
Hyundai LNG Shipping owns six Moss-type LNG carriers, two membrane-type
LNG carriers with ME-GI engines, and one KC-2 type LNG bunkering vessel, its website shows.
Besides Hyundai Cosmopia, other Moss-type vessels are Technopia, Greenpia, Utopia, and Oeanpia.
The membrane-type vessels are the 2017-built 174,000-cbm, Hyundai Peacepia and Hyundai Princepia, while the LNG bunkering vessels is the 2023-built 7,500-cbm, Blue Whale.
Hyundai LNG Shipping operates this LNG bunkering vessel for South Korean LNG importing giant Kogas.
Last year, Malaysian energy giant Petronas added three new LNG carriers to its fleet as it prepares for the launch of the Shell-led LNG Canada terminal in Kitimat, British Columbia.
The three 174,000-cbm vessels are Puteri Sejinjang, Puteri Mahsuri, and Puteri Mayang.
Back in 2021, Petronas signed long-term charter deals for these LNG carriers with Hyundai LNG Shipping.
These ships were preceded by the delivery and naming of the first three vessels, Puteri Saadong, Puteri Ledang, and Puteri Santubong, in January 2024.
In addition, Hyundai LNG Shipping’s fleet also includes two LNG carriers chartered by Spain’s Repsol and built in 2023 and 2024, its website shows.
