On February 27, Norwegian shipowner and sale-leaseback company Ocean Yield announced on its official website that it and Japanese shipping giant Nippon Yusen Kaisha (NYK) had exercised their options for another four vessels, marking the official commencement of the four 200,000 cbm liquefied natural gas (LNG) carriers for HD Hyundai Heavy Industries.
With this, all eight 200,000 cbm LNG carriers that Ocean Yield and NYK announced at the end of 2025 to be built at HD Hyundai Heavy Industries have now come into effect, and are expected to be delivered by 2029.
Ocean Yield stated that the eight new vessels will be built using the same terms, and based on the cost of the first batch of new vessels, the total value of the eight new vessels is approximately US$2.08 billion.
This type of LNG carrier is 294.8 meters long, 48.9 meters wide, and 26.7 meters high. Its cargo capacity is larger than that of conventional 174,000 cubic meter LNG carriers, allowing it to transport more cargo at once. It will be equipped with the latest technologies such as a high-efficiency shaft generator and an LNG reliquefaction system, maximizing navigation efficiency. For shipowners, this type of vessel can significantly reduce unit transportation costs and is hailed as a “high-efficiency” vessel.
According to information disclosed by Ocean Yield, all eight LNG carriers jointly built by the company and Nippon Yusen Kaisha (NYK) are leased by Cheniere Marketing International, a subsidiary of Cheniere Energy, a US LNG producer, and long-term charter contracts have been signed. The charter contracts for the first four vessels were made public on February 5, 2026.