Korea’s Hanwha Ocean said yesterday (see originaal release) that it had signed a contract with its affiliate Hanwha Philly Shipyard to build one LNG carrier worth 348 billion won [about $251 million],
Photo: Hanwha Ocean
Korea’s Hanwha Ocean said yesterday (see originaal release) that it had signed a contract with its affiliate Hanwha Philly Shipyard to build one LNG carrier worth 348 billion won [about $251 million], and had also secured an option contract for one additional ship.
The contract is structured so that Hanwha Philly Shipyard, as a U.S. shipyard, will first sign the contract for the construction of an LNG carrier ordered by Hanwha Shipping, an affiliate of Hanwha Ocean, and then subcontract the construction contract to Hanwha Ocean.
This is the first LNG carrier to be ordered from a U.S. shipyard in about 50 years and is being promoted as part of a strategy to rebuild the U.S. shipbuilding and shipping industries and strengthen energy security.
“In particular,” says Hanwha Ocean, “its strategic value is great in that it can preemptively respond to the U.S. federal government’s policy of mandating the export transportation of U.S. LNG using U.S. LNG carriers, which
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