SHI and HSHI receive more LNG carrier orders

Market: Natural gas
23/12/20

South Korean shipbuilders Samsung Heavy Industries (SHI) and Hyundai Samho Heavy Industries (HSHI) together received another seven newbuild LNG carrier orders yesterday.

The two shipyards had already together received 14 new LNG orders on 14-21 December, amid a flurry that has buoyed the total number of new LNG carrier orders placed at South Korean shipyards so far this month to 21 vessels — surpassing the 19 orders placed in December 2019, which was itself a record month for recent years.

SHI received an order for four carriers yesterday from an unnamed shipowner in Africa, with delivery of the vessels scheduled by the end of May 2024. The carriers were valued at 203.8bn won ($184mn) per unit — more than the pair of carriers ordered on 21 December, but broadly in line with the two ordered on 18 December. The shipbuilder has now received orders for eight carriers so far in December. SHI had expected to receive around eight orders for carriers tied to the planned Mozambique LNG project.

HSHI received an order for a pair of carriers from an unnamed Bermuda-based owner yesterday, with delivery expected by late November 2023. The vessels were valued at around $185mn each, making them the most expensive of 14 recent orders placed at either shipyard.

The shipbuilder also received an order for a single carrier from a Panama-based owner, scheduled for delivery by the end of August 2024, and valued at around $182mn. HSHI received three orders from an unnamed Panama owner on 18 December and one order from an unnamed Panama owner on 21 December. It is unclear if the same firm was behind two or more of these orders.

All 14 recent orders placed with the two shipbuilders have held below $186mn — where orders through much of 2020 have been valued.

By Samuel Good

Recent HSHI and SHI LNG orders
Shipbuilder	Number	Value per unit	Owner location	Delivery by

Ordered 18 December
HSHI	2	$180mn	Oceania	May 2024
HSHI	1	$184mn	Panama	Dec 2023
SHI	2	$184mn	Oceania	Feb 2024

Ordered 21 December
HSHI	3	$183mn	Panama	Sep 2024
SHI	2	$182mn	Oceania	Sep 2024

Ordered 22 December
SHI	4	$184mn	Africa	May 2024
HSHI	2	$185mn	Bermuda	Nov 2023
HSHI	1	$182mn	Panama	Aug 2024
— Hyundai Samho Heavy Industies, Samsung Heavy Industries

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SHI and HSHI receive more LNG carrier orders

Related news posts

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