- HSHI has bagged a contract worth $191.2 million from H-Line Shipping Company for building an LNG carrier.
- The is touted to have a carrying capacity of 174,000m³ and is expected to be delivered in 2021.
- A few weeks earlier, HSHI had won a contract to construct five ships, including two liquefied petroleum gas (LPG) and three petrochemical carriers.
According to an article published in Ship-Technology, Hyundai Samho Heavy Industries has won a contract from South Korean H-Line Shipping Company to build an LNG carrier.
LNG carrier contract
According to the contract, HSHI will deliver the vessel to H-Line Shipping by the end of December 2021. The vessel will have a cargo-carrying capacity of 174,000m³.
- The LNG carrier contract is worth KRW228bn ($191.2m). The company operates as a division of the South Korean shipbuilder Hyundai Heavy Industries (HHI).
- The latest contract award follows just weeks after HSHI won a contract to construct five ships, including two liquefied petroleum gas (LPG) and three petrochemical carriers.
- The two LPG carriers will have a cargo capacity of 84,000m³ and are scheduled to be delivered by November 2021.
- The contract was placed by an unknown Asian customer and its combined value is estimated to be KWR410bn ($337m).
First-quarter sees a decrease in sales
In the first quarter of 2019, Hyundai Samho Heavy Industries reported a 35% sales decrease compared to the same period in 2018. However, the company was able to retain its operating profit.
In November 2018, HSHI signed a $370m contract with Greece-based Consolidated Marine Management (CMM) for the construction of two LNG carriers.
HSHI employs approximately 16,000 people in research and development (R&D), as well as production, management, and administration divisions.
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Source: Ship-Technology
