Korea Marine Plant News - SHI, HHI

Korea Marine Plant News - SHI, HHI

 

 

 

Hyundai Heavy Industries Co., Ltd. to six LNG VLCCs LOI

Hyundai Heavy Industries is expected to win orders for up to six LNG-fuel-powered VLCCs from the venture capital S1 Capital in Geneva, Switzerland.

According to industry information and TradeWinds reports, the two companies signed a LOI on up to six 300,000-dwt double fuel tankers last month, and it will be decided by the 13th of this month whether or not they will continue to sign a formal contract.

Ship broker industry officials estimate the new ships will cost around $150 million per ship, and ship deliveries will begin in 2022.

 

 

 

 

 

 

 

 

 

 

 

 

 

There is much speculation in the industry about the dragon boat contract, with some saying it may not be an energy major, while others believe the ship will be designed to meet the needs of Royal Dutch Shell.

In June, Shell was reported to be in talks with Chinese financial leasing companies to build up to eight LNG-powered VLCCs.

It was reported that the company was planning to charter 4+4 LNG double-fuel vessels of 300,000-dwt class at the time, with Shanghai Waigaoqiao Shipbuilding (SWS) and Dalian Shipbuilding Industry (DSIC) seeking to participate in the new construction project.

Only three new LNG-powered VLCC ships have been ordered so far.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mozambique LNGC Information Update



While Total, a French energy company that leads the Mozambique LNG project in Africa, is expected to soon order up to 17 LNG carriers for the project, detailed information on ship prices and other issues has recently been released.

According to industry information and TradeWinds reports, the new ships will cost about $187.5 million per ship, and the duration of the charter will be about 12 to 15 years. The official ship construction and charter contract is expected to be signed within this month.

Total selected four of the 17 gas carriers as a result of selecting shipping companies for the LNG carrier, and it was recently reported that up to four of the 17 gas carriers were ordered by Greece's Maran Gas and Japan's NYK Line to Samsung Heavy Industries, while Japan's MOL and K Line ordered the same-sized new ships to Hyundai Heavy Industries.

The new project also includes the 17th option to build ships, and MOL is expected to be able to exercise it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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KOREA Ship exports drop 28% in June

Korea's exports and imports recorded $39.21 billion and $35.55 billion in June this year, respectively, showing a decrease in both exports (10.9 percent fall in exports and 11.4 percent fall in imports). However, the trade balance has been in the black for two consecutive months since the deficit in April, and the surplus has increased from last month's $450 million.

The Ministry of Trade, Industry and Energy said, "With the continued impact of Corona 19, the export decrease rate in June was reduced from 20% in three months to 10%," adding, "The daily average export, which excludes the impact of fishing days, improved from April to May, and the volume of exports also recorded a similar level to the previous year in three months."

The nation`s ship exports in the first six months of this year amounted to $1.387 billion, down 27.9 percent from $1.923 billion a year earlier. The Ministry of Trade, Industry and Energy explained, "Recently, export ships are contracted at a time when shipping prices are low, and ship exports have decreased due to the impact of the shipowner's request to delay delivery of ships due to the Corona 19."

On the other hand, Minister of Industry Sung Yun-mo said, "It is meaningful that major indicators have improved even in difficult conditions, such as automobiles, petroleum products and textiles, which were relatively sluggish last month, are showing signs of rebound, and exports to major regions such as the U.S., Europe and ASEAN, which have been gradually improving in six months."

"However, as there are concerns over the re-proliferation of Korona 19 around the world and the timing of the economic recovery is still uncertain, we will continue to make utmost efforts to enhance export vitality of our companies while keeping a close eye on the impact of Korona 19 on our exports," Minister Sung said. "In particular, as major countries are expected to resume their economies and make large investments in the second half of the year, we will provide full support for financial, logistics, manpower and marketing so that we can use of our exports."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Samsung Heavy Industries Delivers LNG Ships to Greece

A new LNG carrier, which Samsung Heavy Industries has built for Greece's TMS Cardiff Gas, was recently delivered, a report showed.

According to industry sources and overseas sources, the 174,000-cbm LNG carrier Qogir was delivered early last month.

Qogir is said to be the second vessel to be used for a charter contract between the company and Total Gas & Power under French Energy Major Total, following the "Le Seine" that TMS Cardiff received earlier this year.

 

Qogir is equipped with GTT Co.'s "Mark III Flex" LNG cargo depot and Wintersur Gas & Diesel Co.'s X-DF low-pressure double-fuel engine.

The ship also has a re-liquidation of the boil-off gas, and the test of the system is said to have been carried out during the Gas Trial in May.

TMS Cardiff currently operates a fleet of 16 LNG carriers and has seven additional remaining orders in the Korean shipbuilding industry.

In addition, three of the seven ships are expected to be delivered between 2020 and 2021.

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