Hyundai Glovis To Expand Fleet With 6 More LNG-Powered PCTCs

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  • Hyundai Glovis would add six more LNG dual-fuel PCTCs with a capacity of 10,800 ceu to its fleet.
  • The company is building a new fleet of LNG dual-fuel propulsion engines to stabilize mid- to long-term fleet operations.

South Korea’s Hyundai Glovis would add six more LNG dual-fuel PCTCs with a capacity of 10,800 ceu to its fleet, reports LNG Prime.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group said the investment is worth $750 million.

It expects to take delivery of the six ships by the end of 2028.

Hyundai Glovis did not reveal the name of the yard(s) which will build the LNG dual-fuel vessels.

The company said it is building a new fleet of LNG dual-fuel propulsion engines to stabilize mid- to long-term fleet operations, respond to strengthened international environmental regulations, and achieve the company’s 2045 carbon neutrality roadmap.

LNG-powered fleet

Hyundai Glovis said in February this year that it has signed a deal with state-owned Korea Ocean Business Corporation (KOBC) related to the construction of four LNG-powered PCTCs with a capcity of 10,800 ceu as part of its plans to have 28 LNG-powered PCTCs in its fleet by 2027. The company said these are the world’s largest PCTCs.

China’s Shanghai Waigaoqiao Shipbuilding (SWS) and Guangzhou Shipyard International (GSI) will reportedly build two of these vessels each.

Seaspan and Hyundai Glovis joined forces in December last year to order six LNG-powered PCTCs from SWS.

The deal for the PCTCs with a capacity of 10,800 ceu also includes an option for four additional vessels.

Besides this deal, South Korea’s HMM and Hyundai Glovis ordered six LNG-fueled PCTCs from GSI. This deal also includes an option for four additional vessels. All of the vessels will serve charter deals with Hyundai Glovis.

Besides LNG dual-fuel propulsion, the PCTCs will be ammonia and methanol-ready.

CSSC Holdings previously said in a stock exchange that both the GSI and SWS deals are worth $1.46 billion, or some $723 million per contract.

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Source: LNG Prime