Petronas selects three owners for nine-ship LNG expansion

Petronas has fixed its shipowners it will work with for the next chapter of its LNG carrier expansion plans.

The Malaysian energy giant has contracted two Korean owners and a Greek firm for a total of nine gas ships, all of which will be built in South Korea.

Broking reports list H-Line Shipping as ordering three 180,000 cu m ships at Samsung Heavy Industries for delivery in 2025. Fellow Korean owner SK Shipping has split its four 174,000 cu m newbuilds for Petronas between Hyundai Samho and Hyundai Heavy, all of which will be delivered in 2025. Lastly, George Economou’s TMS Cardiff Gas has got 2026 delivery slots for a pair of 174,000 cu m ships to be built by Samsung Heavy Industries.

The latest orders take the overall LNG orderbook-to-fleet ratio in dwt terms to 35.1%, the highest of any shipping sector, 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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