Mozambique is resuming its LNG development project and contracts of Hyundai Samho Heavy Industries and Samsung Heavy Industries are expected to be signed soon there, according to BusinessKorea.
The contracts are for the two South Korean shipbuilders to deliver nine and eight LNG carriers by 2027 and 2028, respectively. The average price of the ships is estimated at US$260 million.
The project has been led by Total. The two shipbuilders and the French energy company signed letters of intent two years ago, but the final contracts have been delayed to the civil war in Mozambique. A total of 40 LNG carriers are scheduled to be built for the project.
In the meantime, the three major South Korean shipbuilders (Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering) recorded a global market share of 40.3 percent in January to November this year, up 6.5 percentage points from a year ago. Hyundai Samho Heavy Industries is a subsidiary of Korea Shipbuilding & Offshore Engineering. In the same period, Chinese shipbuilders’ global market share fell from 49.2 percent to 47.2 percent.