'Introduction of LNG Dedicated Vessels' Posco Inter, Value Chain Up

Introduction of 174K CBM Class Dedicated Vessels Starting from 2025

POSCO International announced on the 10th that it has secured a 174K CBM (cubic meter) class LNG carrier to utilize in its LNG business. To this end, it first signed a long-term charter contract with H Line Shipping, a domestic specialized shipping company for dedicated vessels. The LNG carrier will be built by Hyundai Samho Heavy Industries starting in October and is scheduled for delivery in the first half of 2025.

According to the company, utilizing an LNG carrier that can be operated independently will allow more efficient management of gas production, storage, and power generation stages, and the contract is made with the expansion of the gas business in mind. The vessel is planned to be used for gas procurement for trading purposes. From 2026, it will also be used for 20 years to transport 400,000 tons of domestically supplied and North American shale gas.

POSCO International stated, “By securing a long-term LNG charter this time, we have laid the groundwork to solidify the LNG procurement and trading base, completing the LNG value chain and maximizing synergy.” They added, “The North American shale gas to be introduced using the dedicated LNG carrier is also expected to contribute to energy security to some extent.”

HL Line Shipping Operating Vessel
Photo by POSCO International