Mitsui OSK Lines has been named as the company behind a pair of LPG dual-fuel VLGC newbuildings at HD Hyundai Heavy Industries.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the shipyard arm of HD Hyundai Group, announced on Monday that an Asian shipper had ordered two VLGCs without naming the contracting party.
Ulsan-based HD Heavy Industries is slated to deliver them by December 2027.
The shipbuilding group did not disclose the exact size of the ships, but valued the order at KRW 340.3bn ($244.7m), pricing each vessel at about $122.4m.
Shipbuilding sources told TradeWinds that the VLGCs will have a capacity of 88,000 cbm and will have dual-fuel engines.
News of MOL planning to order the large LPG carriers was reported in TradeWinds last week.
The Japanese giant was said to be considering orders for up to seven vessels at HD Heavy Industries, Hanwha Ocean and Japan’s Kawasaki Heavy Industries.
It is ordering VLGCs because it expects global LPG demand growth and projects that Japan’s ammonia fuel demand will rise to 30m tonnes by 2050.
MOL has been contacted for confirmation and further details.
HD KSOE said it has contracted 177 vessels worth $19.8bn this year, exceeding its target of $13.5bn.
