Norwegian shipowner Hoegh LNG announced December 7 it has signed a letter of intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at Samsung Heavy Industries (SHI) in South Korea, each of which will have 

170,000 m³ storage and 750mn ft³/d regas capacities. 

They have scheduled delivery dates of two units in 2019 and two units in 2020. The complete shipbuilding contract for the firm vessel is due to be signed by mid-January 2017.

 

 

 

 

 

 

Hoegh LNG CEO Sveinung Stohle said: "Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuildings, in line with our declared strategy. With this agreement with SHI, whose selection has been subject to a competitive international tender, Hoegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment."

The Bermuda-registered shipowner had said in August it expected to receive bids from six shipyards to build its FSRU and saw up to three possible clients willing to charter it when completed in early 2019. Earlier this year it pulled out of the floating liquefaction business to concentrate on FSRUs, which serve as floating LNG import terminals in countries where it would not be cost-effective to invest in fixed onshore terminals. It aims to double its FSRU fleet to 12 vessels by 2019 and is currently commissioning one in Colombia for a local client.