LNG and drill ships ordered from HHI

01 Jun 2011
HHI-built LNG carrier ‘Abdelkader’, selected as one of the world’s best ships in 2010

HHI-built LNG carrier ‘Abdelkader’, selected as one of the world’s best ships in 2010

Korean shipbuilder Hyundai Heavy Industries has announced two new contracts, the first for two LNG carriers for a Greek owner, and the second for two large drillships.

The gas carrier contract is valued at $600 million, and is for building two 155,000m3 LNG carriers, with an option for a third, for Dynagas. The membrane-type carriers are due for delivery in the second half of 2013. They will feature dual fuel Diesel engines, allowing the ships to run on HFO or natural gas. HHI says that tightening global regulations on carbon emissions is causing increased demand for LNG as an alternative energy source, particularly following the Japanese nuclear crisis. With improving price competitiveness of LNG in comparison with oil prices, the company expects to see more LNG carrier orders in the near future.

As a part of the company’s long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs, HHI says it is perfecting a new welding system for use on the thick aluminium plates used for the LNG tanks.

The second new contract is worth $1.12 billion, and is for the building of two drillships for contractor Rowan Companies. This contract also includes an option for an additional same class ship. The vessels, measuring 229m in length and 36m in width, are rated for operations in water 12,000ft (3,657m) deep. They are scheduled to be delivered by the second half of 2013.

The drillships will be equipped with a canister housing for the thruster, which HHI says will save on maintenance time and operating costs. The canister helps maintain station while drilling, and avoids drydocking for maintenance because  the thruster can be lifted onto the ship for work to be undertaken. The company uses the Gusto P10000 basic design for its drillships, because it considers this achieves the best use of vessel space for drilling. It is stable in operation, and uses less fuel because the thrusters operate less.  A position controlling system, a computer propulsion system, and seven blowout preventers will be installed to enhance safety.

The new orders bring HHI’s total new orders so far this year to 42 ships worth $10.5 billion, or 53% of the new order target of $19.8 billion. The total includes nine new drillship orders, worth $5 billion with options to build three more drillships, which HHI says makes it the most active current builder of such ships.

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