Asia/Pacific News
South Korea's HJSC Secures Order for 18,000 m3 LNG Bunkering Vessel
South Korea’s HJ Shipbuilding & Construction (HJSC) has secured an order from H-Line Shipping for an 18,000 m3 LNG bunkering vessel.
The vessel will be equipped with dual-fuel engines, allowing it to operate on both LNG and conventional marine fuel, HJSC said in a statement on its website on Monday.
It will also feature two independent tanks for enhanced storage and operational flexibility.
The contract is valued at KRW 127.1 billion ($87.4 million).
HJSC stated that this latest order reinforces its expertise in LNG bunkering, following its 2014 success in building the world’s first 5,100 m3 LNG bunkering vessel for Japan’s NYK Line.
The delivery timeline for the vessel has not yet been announced.
Some industry experts argue that the current LNG bunkering vessel orderbook is not keeping pace with the rapid growth of LNG-fuelled ships, potentially leading to a supply bottleneck in the future.
According to classification society DNV, the global LNG bunkering fleet currently consists of 72 vessels, with 24 more expected to be added by 2028. In contrast, the LNG-fuelled vessel fleet stands at 657 in operation, with another 580 set to join by 2028.
“As global LNG demand and supply continue to grow, the LNG bunkering vessel market will see steady expansion,” Yoo Sang-cheol, CEO at HJSC, said.
