Wednesday, December 30, 2020

"Korean Shipbuilders Report LNG Carrier Ordering Spree"

Somebody's betting there's going to be a market for the cold stuff.

From Offshore Energy, December 24:

In the last few days of December 2020, South Korean shipbuilders are witnessing a surge in liquefied natural gas (LNG) carrier orders.

Since 21 December, Samsung Heavy Industries (SHI) secured orders for the construction of eight LNG carriers and Korea Shipbuilding & Offshore Engineering Co. (KSOE) for nine LNG carriers.

On 23 December, SHI said it signed a KRW 815 billion ($734 million) deal with a shipowner from Africa. The deal covers four LNG carriers to be delivered by 31 May 2024, according to information SHI provided in a stock exchange filing.

What is more, SHI unveiled two separate LNG carrier construction deals with Oceania-based companies on 21 and 22 September. The first deal, valued at KRW 408.2 billion, encompasses two vessels planned for delivery by the end of February 2024. The second order, worth KRW 403.5 billion, includes two units scheduled to be handed over by 30 September 2024.

The shipbuilder has so far this year received orders worth $5.5 billion, representing 65% of its annual target, according to Yonhap News Agency....