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March 20, 2017

HSHI secures $240m order from Sovcomflot to build four LNG tankers

Hyundai Heavy Industries' (HHI) shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) has secured an order from Russia's state-owned shipping company Sovcomflot to build four ice-class IA aframax tankers.

Hyundai Heavy Industries' (HHI) shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) has secured an order from Russia's state-owned shipping company Sovcomflot to build four ice-class IA aframax tankers.

The four 114,000dwt, LNG-powered ships have been designed to feature a length of 250m and a height of 21m.

Deliveries of the vessels are expected to begin from the third quarter of next year.

The tankers will emit 90% less sulphur oxides (SOx), 80% less nitrogen dioxide (NOx), 15% less carbon dioxide (CO2) and will produce 50% less engine noise than traditional tankers. They are currently planned to be chartered by Shell.

A Hyundai Samho Heavy Industries official said: “We believe the winning of the world’s first LNG-fuelled aframax tankers is the proof of our world’s leading eco-friendly shipbuilding technology.

"We believe the winning of the world’s first LNG-fuelled aframax tankers is the proof of our world’s leading eco-friendly shipbuilding technology."

“As the demand for eco-ships increases with tightening environmental regulations, we will further accelerate our efforts to win eco-ship orders.”

HHI Group has so far received 65 orders from Sovcomflot to build a variety of ships.

The company entered a deal in December to build a set of 14,500 twenty-foot equivalent unit (TEU) class containerships and 49,000dwt product / chemical carriers for the Islamic Republic of Iran Shipping Lines (IRISL).

HHI also announced its plans to discuss and pursue technical cooperation to develop the shipbuilding industry of Iran with a local Iranian shipbuilder.


Image: 3D Image of Sovcomflot’s new Aframax tanker. Photo: courtesy of Hyundai Heavy Industries Co LTD.

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