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Monday, November 26, 2018 

Hyundai Samho Heavy Industries has secured a contract for two 174,000m3 LNGCs from Greece-based CMM in contracts valued at US$370 million. The Korean yard plans to deliver these vessels from 2021.

Orders for LNG carriers have increased steadily. According to Samho’s parent Hyundai Heavy Industries, this is due to the rising global LNG cargo volumes resultant of the USA’s aggressive energy export trend and China's eco-friendly energy consumption policy. LNG carrier freight rates are surging, says the group.

Freight rates for 160,000m3 LNG carriers in the first half of this year surged from a daily average of $78,000 to $190,000. 

To date, HHI group yards secured a total of 139 vessels in contracts worth $11.8 billion, 90% of its $13.2 billion order target for the year. 

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