South Korea’s Hyundai Samho Heavy Industries Co. signed a contract worth $370 million with Greece’s Consolidated Marine Management Inc. (CMM) to build two liquefied natural gas (LNG) carriers with 174,000 cubic meters in size, the company announced.
With the deal, the three shipbuilding units of Hyundai Heavy Industries (HHI) Group – Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho – have secured total 22 orders for LNG carriers so far this year, or nearly half of the global orders of 45. They achieved almost 90 percent of their target of $13.2 billion for this year by clinching 139 orders worth $11.8 billion.
Hyundai Samho proved its outstanding technology with its self-developed Hi-Gas package solution, a fuel gas supply system, by delivering the country’s first dual-fuel LNG carriers in February. In addition, its own solutions for LNG vessels including reliquefaction system dubbed Hi-ERS, regasification system Hi-ReGAS and bunkering fuel supply system have been well received in the global market, according to the company.
“Differentiated technology and solid financial soundness have helped raise confidence by global ship owners,” said an official from the group. “Our efforts to focus on high value-added vessels like LNG carriers amid signs of recovery in the shipbuilding industry have been paying off.”