Hanwha Ocean announced on October 2 that it has received an order for a liquefied natural gas floating storage regasification unit (LNG-FSRU) from an Asian ship owner.
Hanwha Ocean has not disclosed the name of the ship’s owner. However, it is understood that the owner is Japanese shipping giant Mitsui O.S.K. Lines, Ltd. (MOL). And the shipbuilding is expected to be delivered in October 2027 which will be used for the long-term LNG business in Singapore.
Hanwha Ocean said that LNG-FSRU is a type of vessel that can supply natural gas without large-scale facility investments, such as building onshore terminals.
Currently, the market price of an average LNG carrier is about US$265 million, while LNG-FSRUs cost more than US$400 million each, which is about US$150 million more than LNG carriers.
It is understood that in 2011, Hanwha Ocean delivered the world’s largest LNG-FSRU of 173,400 m3, and in December 2013, Hanwha Ocean once again broke the record by delivering a 263,000 m3 LNG-FSRU.
According to Clarkson, 12 of the 41 LNG-FSRUs/RVs currently operating globally were built by Hanwha Ocean, accounting for about 30 percent of the market.
