Business General News

The biggest shipbuilder in the world wins two LNG vessel orders worth $390m

hyundai LNG

Earlier today, Hyundai Heavy Industries, the biggest shipbuilder in the world said in a statement on their website that the company has obtained two new orders to manufacture Liquid Natural Gas carriers which brings the total LNG orders to 5 in 2019.

However, the company did not reveal the name of the European shipping company who paid $390 million for the two vessels. HHI would deliver the vessel in 2022 which has a capacity of 180,000 cubic meters.

HHI would build the vessel with Mark III Flex Plus technology which helps to reduce the vaporization rate to 0.07 percent. The company could save up to $1 million per year per vessel with the help of this new technology.

Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard, the company affiliates received 6 new carriers from European companies which consist of 4 petrochemical product carriers and 2 crude oil carriers.

The company also stated that the demand for LNG vessel would grow in the near future as the demand from LNG increase globally.

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