AsiaFinance and InsuranceGas

SK Shipping seeks financing for four LNG carriers

SK Shipping, the South Korean tanker giant, has made requests for proposal to around 20 local and foreign banks to raise $600m for the construction of four LNG carriers.

SK Shipping will transport shale gas for SK E&S imports from the Freeport LNG project in the US. The actual shipbuilding contracts for four 180,000 cu m ships is likely to be signed by the end of this year, with Korea’s top three yards – Daewoo, Samsung and Hyundai – in pole position to win the orders.

In September 2013, SK E&S signed a contract for 2.2m tons per annum (mtpa), commencing upon completion of construction of the third train of Freeport LNG’s proposed natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas.

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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