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Hyundai Heavy Unit Bags Order for 2 LNG-Fueled Bulk Carriers

Logistic News - Published on Mon, 15 Jul 2019

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Yonhap, citing Hyundai Samho Heavy Industries Co, a local shipbuilder, reported that it has clinched a deal to build two bulkers fueled by liquefied natural gas. Under the deal with H-Line Shipping Co, a midsize South Korean shipper, Hyundai Samho will build two 180,000 tonne vessels, which will be used on a route between South Korea and Australia starting in 2022. The value of the deal was not revealed. This is the second time that H-Line has placed an order for LNG-fueled vessels with Hyundai Samho Heavy, an affiliate of industry leader Hyundai Heavy Industries Co. Last October, the shipper placed an order worth 140 billion won for two LNG-fueled bulkers.

With the latest order, there will be seven LNG-powered vessels in South Korea.

Demand for LNG-fueled vessels is expected rise due to a new International Maritime Organization regulation. The IMO will lower the sulfur content cap for marine fuels from 3.5 percent to 0.5 percent in 2020.

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Posted By : Mohan Sharma on Mon, 15 Jul 2019
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