Koreans in for more LNG carriers

The LNG orderbook to fleet ratio – the highest among all shipping segments – continues to swell with Korean yards the recipients of more orders stretching into 2025 in terms of delivery times.

Broking reports note South Korea’s H-Line Shipping has tapped Samsung Heavy Industries for four 174,000 cu m ships for 2025 delivery. The vessels will go on long-term charter to ExxonMobil.

While no price has been revealed for H-Line’s latest newbuild, another order from compatriot Hyundai Glovis gives an indication. Hyundai Glovis has contracted Hyundai Samho for one 174,000 cu m ship, costing $217m. The new build will deliver in 2024 and go on a seven-year charter to Woodside.

The LNG orderbook as a percentage of the extant fleet in dwt terms now stands at 29.8%, according to data from Clarksons.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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