MISC secures long-term charters for LNG carrier newbuilds

South Korea’s Samsung Heavy Industries (SHI) secured the order for the two LNGCs, which will be used by ExxonMobil to transport its global LNG production.

Designed for efficient long-haul transport, the vessels will be equipped with WinGD X-DF propulsion, a reliquefaction system and GTT Mark III Flex Plus membrane cargo tank technology to reduce boil-off gas. The LNG carriers will also be equipped with Svessel, a Samsung-developed smart ship solution for automatic route planning to reduce fuel consumption. SHI will deliver the vessels in Q1 2023.

“Our co-operation with MISC is an integral part of ExxonMobil’s commitment to provide flexible solutions in the open and dynamic LNG marketplace,” said ExxonMobil vice president of global LNG marketing Alex Volkov. “The addition of these two vessels will help us build a competitive LNG value chain as ExxonMobil continues to grow its global gas portfolio and expand supply positions to meet evolving needs of our customers.”

Of its more than 100 owned and in-chartered vessel, MISC owns 29 LNG carriers and two LNG floating storage units.

The order from MISC will further grow SHI’s backlog. In its October investors report, SHI had an orderbook of 32 LNG carriers valued at US$5.9Bn and two floating LNG vessels valued at US$4.1Bn.