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Hyundai Mipo Dockyard secures an order for LPG carrier duo

Hyundai Mipo Dockyard secures an order for LPG carrier duo

The South Korean shipbuilding company Hyundai Mipo Dockyard has secured an order from an undisclosed African shipowner for the construction of two LPG carriers.

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According to Clarksons Platour Shipbroking, West Africa LPG is behind the order featuring two 23,000 cbm completely refrigerated LPG carriers. The vessels are fuelled conventionally.

The contract, the shipbuilder revealed in a stock exchange filing, is worth $77.7 million (KRW 89.2 billion). In September 2022, the LPG carriers are scheduled for delivery.

The order builds on the two companies' previous cooperation.

Back in 2014, just a year after the gas company was established, West Africa LPG ordered its first two LPG carriers from the yard.

According to estimates by VesselsValue, the 38,000 cbm newbuilds, named MT Africa Gas and MT Sahara Gas, were delivered in 2017 and have a market value of 83.3 million in total.

In March 2013, West Africa Gas joined Nigerian National Petroleum Corporation LNG Ltd, a wholly-owned subsidiary of Nigerian National Petroleum Corporation (NNPC), and Ocean Bed Trading Ltd. as a joint venture company.

Maritime Business World

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