Hyundai shipyard wins $1.13 bln orders to build six LNG carriers

[Courtesy of Hyundai Heavy Industries]

SEOUL -- South Korea's Hyundai shipbuilding group has secured orders worth $1.13 billion to build four LNG carriers for a European client and two others for an Asian shipping company. The ships will be installed with a dual-fuel propulsion system to enhance efficiency and reduce toxic gas emissions.

Hyundai Heavy Industries said Thursday that six LNG carriers would be delivered in order from the middle of 2022. So far this year, the shipbuilder has secured $11.3 billion in total orders for 125 ships or 71 percent of this year's target set at $15.9 billion.

The shipbuilder said it would receive more orders, including one for two LNG carriers, as stricter environmental regulations prompt shipowners to place orders faster. Under new rules imposed by International Maritime Organization (IMO), a U.N. maritime safety agency, the amount of sulfur emanating from ships should be reduced from 3.5 percent to 0.5 percent from January 1, 2020.

Lim Chang-won cwlim34@ajunews.com

Hyundai shipyard wins $1.13 bln orders to build six LNG carriers

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