Hanwha Shipping Orders First U.S.-Built LNG Carrier In Nearly 50 Years

In a historic move, Hanwha Shipping has placed an order for a liquefied natural gas (LNG) carrier with Hanwha Philly Shipyard, the U.S.-based subsidiary of South Korea’s Hanwha Ocean. This is the first time since the late 1970s that an LNG carrier will be constructed under a U.S. order.

The deal, valued at approximately $251.2 million, includes one confirmed vessel and an option for a second. Hanwha Ocean will handle a significant portion of the vessel’s construction at its Geoje shipyard in South Korea, while Hanwha Philly Shipyard will manage U.S. Coast Guard compliance, certification, and final integration work necessary to meet U.S. flag registration standards.

According to Ryan Lynch, President and CEO of Hanwha Shipping, this is just the first step in building U.S.-based demand for domestically built LNG carriers. He also added that finding enough qualified mariners to crew such tankers could take years.

The vessel, with a planned capacity of 174,000 cubic meters, will feature GTT containment systems and a MEGI (M-type, electronically controlled, gas injection) engine, widely recognised for its energy efficiency.

This order is strategically timed as the U.S. government has introduced policies for more domestic construction of LNG vessels.

Hanwha Ocean confirmed that the deal will also strengthen cooperation between the South Korean and U.S. shipbuilding industries. Company officials said the project will serve as a platform to transfer advanced Korean shipbuilding technology to U.S. soil.

Hanwha Philly Shipyard, which was acquired for $100 million in December last year, will begin expanding into high-value vessels like LNG carriers through technology transfer and personnel training.

An official from Hanwha Ocean said the company aims to establish a long-term cooperative model, combining Korean design and construction know-how with U.S. regulatory capabilities. This collaboration is intended to help Hanwha expand its presence in the North American LNG shipping market.

Hanwha officials also indicated that future LNG vessels could be used to test eco-friendly ship technologies. The company plans to introduce new green shipping innovations through this fleet to support sustainable shipping while reducing the risk and cost burden typically faced by other shipowners.

Reference: hanwhaocean

Source: Maritime Shipping News