Hyundai Samho picks up single LNG carrier order

South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has received an order for a LNG carrier, which is set for delivery in October 2023.

The order — placed by an unnamed European shipowner — was valued at around 210bn won ($186mn) and is the second placed with the shipbuilder so far this year, after Russian state-controlled Sovcomflot ordered a carrier in January.

HSHI has around 26 LNG carriers on its order book, including the new order. The firm was also one of a few South Korean shipbuilders that were recipients of a flurry of newbuild orders in December last year. Around 17 of these carriers were linked to the planned 13.1mn t/yr Mozambique LNG project, split up between HSHI and Samsung Heavy Industries, market participants noted.

But with this planned project now delayed by at least a year, according to operator Total, a question remains regarding these ordered carriers. No shipbuilders have acknowledged any extension in delivery times for the carriers, although this could still come to pass. Alternatively, the carriers could still be delivered according to schedule and operate on the spot and short-term charter markets, buoying availability in 2024-25.

By Samuel Good