H-Line Shipping Orders LNG Carrier from Hyundai Samho

Business & Finance

September 9, 2019, by World Maritime News

South Korea’s Hyundai Samho Heavy Industries has secured an order for the construction of a liquefied natural gas (LNG) carrier.

Illustration; Source: Flickr – under the CC BY 2.0 license; Image by: Jasmine Halki

According to a stock filing by Hyundai Heavy Industries, the deal has a value of KRW 228 billion (USD 191.2 million).

Under the contract with the compatriot shipowner, H-Line Shipping, the shipbuilder is scheduled to build and deliver the unit, with a capacity of 174,000 cbm, by December 31, 2021.

The latest order comes just weeks after Hyundai Samho Heavy Industries signed deals to build five vessels, including two liquefied petroleum gas (LPG) and three petrochemical carriers.

Hyundai Samho recorded sales of KRW 1.6 trillion in the first half of 2019, a decrease of 35 percent from the corresponding period last year. However, the shipbuilding unit has seen its operating profit rise, according to Yonhap News Agency.

World Maritime News Staff