Hoegh delays Hyundai FSRU options
Norway’s Hoegh LNG has pushed back the exercise date for a pair of optional newbuild floating storage and regasification units (FSRU) at a South Korean shipyard, Upstream Online reports.
The shipping giant was due to either firm up or scrap options for the LNG vessels at Hyundai Heavy Industries in mid December and mid January.
On Friday Hoegh announced that it has hammered out an agreement with Hyundai, the world’s largest shipbuilder, whereby both options have been extended into the first quarter next year.
The Norwegian owner did not specify in which part of the quarter the options may be exercised and gave no reason for the extension.
“The company's third and fourth option agreements are not affected by this agreement,” Hoegh added.
In mid June Hoegh penned a $500 million deal with Hyundai for a pair of FSRUs, to be the first ever newbuild vessels of their type. Hoegh at the time also left two optional contracts at the Korean builder.
The first firm units are slated for delivery in the second half of 2013 and the first half of 2014.
The 170,000-cubic-metres ships will have a maintenance interval of 10 years instead of five years normally required for converted FSRUs.
HHI said the vessels would operate for 40 years and be capable of storing about 3.2 billion cubic feet of LNG and would cost half as much as an onshore LNG terminal and take a year less to complete.
The shipping giant was due to either firm up or scrap options for the LNG vessels at Hyundai Heavy Industries in mid December and mid January.
On Friday Hoegh announced that it has hammered out an agreement with Hyundai, the world’s largest shipbuilder, whereby both options have been extended into the first quarter next year.
The Norwegian owner did not specify in which part of the quarter the options may be exercised and gave no reason for the extension.
“The company's third and fourth option agreements are not affected by this agreement,” Hoegh added.
In mid June Hoegh penned a $500 million deal with Hyundai for a pair of FSRUs, to be the first ever newbuild vessels of their type. Hoegh at the time also left two optional contracts at the Korean builder.
The first firm units are slated for delivery in the second half of 2013 and the first half of 2014.
The 170,000-cubic-metres ships will have a maintenance interval of 10 years instead of five years normally required for converted FSRUs.
HHI said the vessels would operate for 40 years and be capable of storing about 3.2 billion cubic feet of LNG and would cost half as much as an onshore LNG terminal and take a year less to complete.