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[Alpha Biz=(Chicago) Reporter Paul Lee] Three Korean shipbuilders, HD Hyundai Heavy Industries, Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) and Samsung Heavy Industries, will sign a contract to build Qatar liquefied natural gas (LNG) carriers worth up to KRW 12 trillion in September. Hanwha Ocean is the first large-scale order since it was incorporated into Hanwha Group.
According to industry sources on the 26th, shipping companies that received orders from Qatar Gas (QG), a subsidiary of Qatar's state-run oil company (Qatar Energy), will sign contracts with three South Korean shipbuilders to build about 40 LNG carriers between September and October. Samsung Heavy Industries is expected to win the largest number of orders with 16, followed by Hanwha Ocean with 14 and HD Hyundai Heavy Industries with 10. The shipbuilders are in last-minute negotiations with the shippers over details such as the amount of the contract and the terms of the ship's production.
The three shipbuilding companies have already signed an order agreement (DOA) with Qatar Energy and shipping companies in 2020. As long as there are no major defects, it will lead to the final contract.
This order is the second contract following the first Qatar project signed in 2021. At the first contract, three shipbuilding companies won a total of 54 ships. Although there is a price range set at the time of the DOA in 2020, the second contract is expected to rise more than the first contract (average $ 215 million per ship) on the condition that it reflects labor and raw material price fluctuations. According to Clarkson Research, the new LNG carrier price (174,000㎥) last month was $ 260 million (about 330 billion won) per ship. Calculating $250 million per ship, the total amount of orders by the three local shipbuilders for Qatar gas ships in the second half of the year amounts to about 12 trillion won.
Hanwha Ocean is meaningful in that it receives large-scale orders for the first time since it was acquired by Hanwha Group.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
