US-listed New Fortress Energy is being named as the company behind a low-key order for two 30,000-cbm LNG carrier newbuildings at South Korea’s Hyundai Mipo Dockyard.
Industry sources said the yard has secured a contract from an unnamed company for delivery in mid-2021.
No details have emerged, but brokers said they believe New Fortress could be behind the newbuildings.
In a filing this week, Nasdaq-listed New Fortress said it had secured a three-year loan of $800m from funds and accounts managed by affiliates of investment manager Apollo Global Management.
New Fortress said the net proceeds of the term loan will be used to fund the development and construction of its energy infrastructure projects around the world, and to repay an existing $500m loan in full.
Additional capital
New Fortress chairman and chief executive Wes Edens said: “This transaction provides additional capital for us to continue to build LNG terminals and infrastructure around the world.”
New Fortress, which styles itself as an energy infrastructure company, has been pursuing ambitious growth as it moves to bring several LNG import projects into operation.
It has put three import schemes into operation in Jamaica using a mix of floating storage and regasification units and small LNG carriers. New Fortress is also working on projects in Puerto Rico and Mexico, with plans to extend this to 10 by the end of next year.
In its November results call, Edens spoke about a move into LNG bunkering and small-scale shipping, adding that the company is going to be “critical” in providing LNG logistics.
Last year, New Fortress snapped up Jens Martin Jensen as its new head of shipping. The post was advertised as one that entails chartering, buying and selling ships, along with talking to potential LNG bunkering customers and shipyards, or other sellers of vessels.
The company also said its new head of shipping would need to evaluate the company’s own newbuildings over chartered-in vessels.
