Hanwha Ocean cuts steel for BW LNG’s next LNG carrier newbuild VESSELS

South Korean Hanwha Ocean, formerly known as Daewoo Shipbuilding and Marine Engineering (DSME), has held a steel-cutting ceremony for a new LNG carrier to be built for Norway-based gas shipping company BW LNG.

The ship (H2530) is a 174,000 cubic meter MEGI-propelled LNG carrier that is slated for delivery in 2025.

It is one of the four LNG carriers that Hanwha Ocean is building for the Norwegian shipowner. In addition to MEGI propulsion, the vessels will feature a full re-liquefaction system, air lubrication system, and shaft generators for superior fuel consumption and lower emissions. Marine compressed air systems will be provided by TMC Compressors.

In 2022, Daewoo Shipbuilding delivered two 174,000 cbm LNG carriers, the BW ENN Snow Lotus and the BW Cassia, to BW LNG, all of which will be under time charter to ENN and BP. (BP), all of which will enter into time charter contracts with ENN and BP.

Currently, liquefied natural gas (LNG), a representative environmentally friendly fuel, is in great demand in the European and Asian regions. Particularly in the European region, the demand for LNG carriers associated with LNG development projects is expected to remain stable as the West is accelerating its efforts to secure energy security in order to break away from its dependence on Russian fossil fuels as the Russia-Ukraine conflict intensifies.

Against this background, Hanwha Ocean announced on October 26 this year that it plans to build four large LNG carriers simultaneously at the No. 1 dock of Hanwha Ocean’s Geoje Shipyard, a step that signifies Hanwha Ocean’s commitment to normalizing its operations and increasing its profitability through the continuous construction of LNG carriers.

Hanwha Ocean said that based on the construction of four LNG carriers simultaneously, Hanwha Ocean Geoje Shipyard Dock No. 1 will continue to build this high-value-added ship type, and Dock No. 2 will also start building LNG carriers from 2024. Hanwha Ocean expects to break the record of annual LNG carrier construction delivery and has set an annual target of 22 ships in 2024 and 25 ships in 2025.

Yangzijiang Shipbuilding

Most Popular