Maran Tankers to decide between Hyundai and Daewoo for eight ship order

Still unclear each yard how many LNG will built and how contract is divided

2011.01.18_lng_ship.jpgBoth Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering will share a slice of the potential eight ship order.

Angelicoussis Maran Gas is still ironing out the details of the contract with a final deal expected to be signed this month, a Daewoo spokesperson tells TradeWinds.

It will split the ships between the two yards due to the sparse availability of shipbuilding slots in the LNG sector.

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How many will be built at each yard and how the contract is divided between firm orders and options is unclear at this stage, the spokesperson says.

Talk of the Greek magnates latest LNG newbuilding splash comes only hours after TradeWinds revealed Angelicoussis was set to sign for two more LNG carriers at Daewoo.

This latest octet would boost Marans LNG carrier fleet to sixteen vessels.

The company was known to be sitting on newbuilding berths at both yards and was expected to firm up additional orders, especially after Russian owner Sovcomflot relinquished the slots it was holding for a pair at a rival yard.

However the scale of the upcoming order is fuelling talk that the ships are being contracted against specific requirements from a producer.

The Greek owner has been busy in the LNG sector of late. This year he has already converted orders for three VLCCs at Daewoo into LNG carriers.

Hyundai recently received an order for up to three LNG carriers from Greek shipowner George Procopiou in a deal potentially worth up to $900m.

Demand for new fuels in the wake of the Japan crisis plus Germanys decision to exit the nuclear power sector has increased interest in LNG.

Daewoo recently confirmed a deal for up to four 160,000-cbm LNG carriers from Norwegian owner Awilco.

And of course John Fredriksens Golar LNG has ordered up to eight LNG carriers at Samsung Heavy Industries for delivery from 2013 onwards.

Even before the latest order, Oslo-based Arctic Securities estimated there had been 13 orders for LNG carriers since March.

Source: Tradewinds

Maran Tankers to decide between Hyundai and Daewoo for eight ship orderMaran Tankers to decide between Hyundai and Daewoo for eight ship order
Maran Tankers to decide between Hyundai and Daewoo for eight ship orderMaran Tankers to decide between Hyundai and Daewoo for eight ship order

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