Hyundai and Samsung Heavy Win Orders for Four Ultra-Large Ethane Carriers Worth 524 Billion KRW

[Asia Economy Reporter Park So-yeon] Hyundai Heavy Industries and Samsung Heavy Industries have consecutively secured orders for 98K-class ultra-large ethane carriers, the largest in the world. Ethane carriers are a new type of vessel designed to export ethane produced from shale gas development in the United States.

According to the shipbuilding industry on the 25th, Hyundai Heavy Industries and Samsung Heavy Industries have received orders for four ethane carriers totaling $440 million (approximately 524 billion KRW) from shipping companies in the Asian region. Each company secured two vessels.

The ethane carriers ordered by domestic shipbuilders this time are the first to be commissioned worldwide this year, with ultra-large vessels measuring 230m in length, 36.6m in width, and 22.8m in height.

Hyundai Heavy Industries is already constructing three ethane carriers of the same class and, with the additional two orders, will build a total of five ethane carriers. The contract includes an option for one more vessel of the same class, raising expectations for further orders in the future.

In the case of Samsung Heavy Industries, including this construction contract, it has secured 11 out of 18 ethane carriers (61%) ordered worldwide to date.

Ethane carriers are high value-added vessels that liquefy ethane and maintain the cargo hold temperature stably at minus 94 degrees Celsius during transportation. Like LNG carriers, they require advanced shipbuilding technology and expertise. Ethane is extracted from natural gas and other sources and, along with naphtha, is a key raw material in the petrochemical industry.

An industry insider said, "Petrochemical companies are showing high interest in ethane cracking facilities, which have lower raw material costs compared to traditional methods, making this a sector where additional orders are expected."

This content was produced with the assistance of AI translation services.