Hyundai LNG Shipping announces Order for one VLGC at HHI

April 17, 2019

Hyundai LNG Shipping Company (HLS, the Company), South Korean owner of 10 LNG Carriers, has placed an order at Hyundai Heavy Industry for the construction of one 84,600cbm Very Large Gas Carrier (VLGC).

The vessel will be delivered in 3Q 2020 for the employment of seven year (+ option) time charter with a global energy company.

KyuBong Lee, CEO of HLS, said “We are very grateful to build meaningful relationship with a respectable charterer through long-term contract and to build the ship at the world best shipping yard. All of our employees will do our best to provide best shipping solution which will meet the customer’s needs in a very safe and reliable operation.”

HLS is the first LNG shipping company in Korea who started its first operation for Kogas twenty five years ago, and currently delivers about 28% of Korea’s import volume of FOB contracted LNG. Based on its long operation knowhow, the Company maintains its appetite for further growth in global market.

Ka Sam-hyun, president of Hyundai Heavy Industries (left) and Lee KyuBong, president of Hyundai LNG Shipping (right). Image by Hyundai LNG Shipping.

Hyundai LNG Shipping, press release