Mr. Tan Sri Dato' Shamsul Azhar Abbas, CEO and President of Petronas

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, today won a USD 850 million order to build four 150,000 m3 Moss type LNG carriers from Malaysian oil company Petroliam Nasional Bhd (Petronas).

The contract also includes an option exercisable by the owner to order four additional same class LNG carriers. The double-hulled LNG carriers are scheduled to be delivered to the owner from the second half of 2016.

The tankers for carrying liquefied natural gas will be constructed with four independent self-supporting spherical tanks that have more reliable performance when loading and unloading cargo, and have greater resistance to sloshing forces compared to membrane tank system. These features play a crucial role in Moss type LNG carriers being the preferred choice for offshore storage work where harsh sea conditions are a significant factor.

Mr. Ka Sam-hyun, executive vice president of Hyundai Heavy’s Shipbuilding Division said, “We see this order as the first of many for LNG carriers as regulations for carbon dioxide emission tighten and demand for LNG increases as an alternative energy source.”

Hyundai Heavy is the only Korean shipbuilder that can build Moss type LNG carriers. The Ulsan, South-Korea based company has built 15 Moss type LNG carriers since 1994.