HJ Shipbuilding & Construction (HJSC) has landed its first LNG dual-fuel container ship newbuilding contract.
The Busan shipyard — the former Hanjin Heavy Industries & Construction — said a European shipowner ordered two 7,700-teu ships, with options for two more vessels.
HJSC did not disclose the buyer’s identity but said the price is $120m each. It will deliver the pair of firm vessels starting in late 2024.
Shipbuilding sources linked Greece’s Navios Maritime Partners as the buyer.
On Wednesday, the New York-listed company said it had ordered two LNG dual-fuel neo-panamax container ships for $241.2m in total and said they will be bringing in $370m in charter hire over 12 years. The identity of the charterer was not disclosed.
Navios Partners said its order included options for two additional vessels that are slated for delivery in the second quarter of 2025. It has two months to exercise the options.
This is the third newbuilding contract for HJSC since it made a commercial shipbuilding comeback under new ownership last year.
Hamburg asset and investment manager MPC Capital and Oslo-listed affiliate MPC Container Ships (MPCC) also booked newbuildings at the South Korean yard.
MPC Capital signed up for four conventionally fuelled, methanol-ready 5,500-teu boxships, while MPCC ordered two similar-size vessels.
HJSC said it will meet half of its order target of KRW 800bn ($616m) if the buyer of the 7,700-teu newbuildings exercises the options.
HJSC was formed in 2021 when a consortium led by civil engineering and construction company Dongbu Corp officially became the major shareholder with more than 66% of shares after acquiring a stake from state-owned Korea Development Bank.