Hyundai Mipo wins order for LPG carrier duo

South Korean shipbuilding major Hyundai Mipo Dockyard has secured an order for the construction of two LPG carriers from an undisclosed African shipowner.

According to Clarksons Platour Shipbroking, West Africa LPG is behind the order featuring two 23,000 cbm fully refrigerated LPG carriers.

The vessels are conventionally fuelled, Clarksons said.

The contract is worth $ 77.7 million (KRW 89.2 billion), the shipbuilder revealed in a stock exchange filing.

The LPG carriers are slated for delivery in September 2022.

The order builds on the previous cooperation between the two companies.

West Africa LPG ordered its first two LPG carriers from the yard back in 2014, only a year after the gas company had been formed.

The 38,000 cbm newbuilds, named MT Africa Gas and MT Sahara Gas, were delivered in 2017 and have a market value of 83.3 million in total, according to VesselsValue’s estimates.

West Africa Gas was incorporated in March 2013 as a joint venture company of Nigerian National Petroleum Corporation LNG Ltd, a wholly-owned subsidiary of Nigerian National Petroleum Corporation (NNPC), and Ocean Bed Trading Ltd.