MOL behind order for $260M LNG carrier at SHI
MOL behind order for $260M LNG carrier at SHI - Offshore Energy
MOL behind order for $260M LNG carrier at SHI
Japanese shipping major Mitsui O.S.K. Lines (MOL) has placed an order for a liquefied natural gas (LNG) carrier at Samsung Heavy Industries (SHI).
According to Intermodal, the shipowner placed the order for a 174,000 cbm LNG carrier. The price tag for the vessel is $260 million. The LNG carrier is slated for delivery in 2026.
The shipbuilder has secured contracts totaling $6.6 billion for the construction of 26 ships, representing an impressive 69 percent of its 2023 target of $9.5 billion, according to Yonhap.
These contracts encompass a diverse range of vessels, comprising seven LNG carriers, two oil tankers, 16 container vessels, and a floating LNG gas facility.
SHI has recently revealed that it has developed a laser high-speed welding robot for use in the construction of liquefied natural gas carriers. The device, believed to be the industry’s first, is expected to improve the speed of joining membrane panels in the cargo hold of LNG carriers. The robot is up to five times faster than the existing method of plasma arc welding (PAW), according to SHI.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.