POSCO International pens LNGC charter deal
POSCO International has signed a deal with South Korean shipping company H-Line Shipping to charter an LNG carrier, it said on May 10.
The 174,000 m3 vessel will be built by Hyundai Samho Heavy Industries and is expected to be delivered to POSCO International in the first half of 2025.
The company said the deal will strengthen its LNG supply chain as it plans to ship 400,000 metric tons/year of shale gas from North America from 2026 to 2046. POSCO plans to secure additional LNG vessels, it added.
“By securing a long-term LNG charter this time, we have laid the foundation for maximising synergy with the completion of the LNG value chain by solidifying the basis for LNG procurement and trading,” an official said.
Currently, there are a total of 34 LNG carrier in South Korea, most of which are operated by Korea Gas Corporation, POSCO International said.