Hyundai LNG Shipping orders its first VLGC

Hyundai LNG Shipping Company (HLS), South Korean owner of 10 LNG carriers, has placed an order at Hyundai Heavy Industry for the construction of one 84,600-cbm very large gas carrier (VLGC).

The vessel will be delivered in the third quarter of 2020 for the employment of seven-year time charter with a global energy company.

The deal includes an extension option, Hyundai LNG Shipping Company (HLS) said in a statement.

HLS is the first LNG shipping company in Korea who started its first operation for Kogas twenty five years ago.

Currently delivers about 28 percent of Korea’s import volume of FOB contracted LNG, the statement reads.