SK Shipping raising funds for LNG newbuilds

South Korea’s SK Shipping is reportedly planning to raise $US600 million for the construction of four new LNG tankers.

The shipping company has already made requests for proposal to local and foreign banks to raise the cash, according to media reports.

The four 180,000 cbm ships will be used to transport the chilled gas from the Freeport LNG export project in the U.S.

The shipbuilding contracts are expected to be signed by the end of this year with Korea’s three giants Daewoo, Samsung and Hyundai tipped to probably win the deal.

SK Shipping is currently operating a fleet of 12 ships, which makes it the largest LNG shipping company in Korea, according to its website.

LNG World News Staff; Image: SK Shipping