LNG shipping expands with new CNOOC vessel and SK Shipping fleet reshuffle

The liquefied natural gas (LNG) shipping sector is seeing significant developments in Asia. In China, a naming ceremony was held for the “GREENERGY RIVER,” a new LNG carrier for the state-owned CNOOC Group. Built by Hudong-Zhonghua Shipbuilding, the vessel is part of a six-ship series being deployed by Huajing LNG Transport Pte. Ltd., a joint venture involving NYK, CNOOC Gas and Power Singapore Trading & Marketing, CETS Investment Management, and China Merchants Energy Shipping. The ship features a dual-fuel engine designed to reduce greenhouse gas emissions.

In South Korea, SK Shipping is set to become Asia’s largest LNG carrier operator following a trillion-won fleet reshuffle led by private equity firm Hahn & Co. The company will acquire 16 LNG carriers from H-Line Shipping in exchange for 12 oil tankers and approximately $300 million in cash. Upon completion, SK Shipping plans to rebrand as K-LNG, operating a fleet of 32 LNG carriers. This move aims to specialize the two companies, with H-Line Shipping focusing on oil tankers, dry bulk, and vehicle carriers, while K-LNG concentrates on gas and cleaner-energy transportation.