Höegh LNG to build up to nine FSRUs

Höegh LNG to build up to nine FSRUs

Oslo: Oslo-listed Höegh LNG has ordered eight floating storage and regasification units (FSRUs) at Hyundai Heavy Industries (HHI), South Korea, with an option for another.

The vessels will be delivered in the first quarter 2018; no price for the deal was disclosed.

The agreement with HHI also includes a firm-priced option for a ninth FSRU, with a predefined delivery window.

With this order, the company has eight, large-size FSRUs in operation or under construction.

Sveinung J.S. Støhle, Höegh’s president and CEO, said today: “After signing the long-term contract with Octopus LNG last week, we stay firm to our business model with the order of FSRU#8 + options. Our plan to grow our FSRU fleet step- by-step with the objective to double it by 2019 remains firmly in place.

“We continue to see strong demand for our FSRU services, and with the highest technical specification on our newbuild FSRUs at competitive prices, Höegh LNG remains the leading company in the FSRU segment and we are very well positioned to continue increasing our market share in the coming years.”

Last week, Höegh LNG Holdings raised $130m through the issuance of senior unsecured bonds in the Nordic bond market.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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