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BP Shipping places $1.5bn LNG tanker order with Hyundai.
(From Lloyds List)
Byline: Oil giant books up to eight vessels, writes Sam Chambers in Hong Kong and Tony Gray
HYUNDAI Heavy Industries has been awarded a contract for up to eight liquefied natural gas carriers by BP Shipping in a deal that could be worth $1.5bn.
The 155,000 cu m membrane-type vessels have been ordered on a four, option four, basis. Costing $187.5m each, the four firm vessels will be delivered in 2007 and 2008 and equipped with dual fuel diesel-electric propulsion.
The vessels are the largest LNG carriers yet ordered, surpassing the 153,500 cu m design contracted by Gaz de France at Chantiers de l'Alantique.
However, Overseas Shipholding Group and Pronav Ship Management are close to ordering 200,000-210,000 cu m vessels for transporting gas from Qatar to Britain and Europe. HHI is one of the two favoured yards for this deal.
At $187.5m each, the BP deal also further ratchets up the price of LNG carriers since they fell below $150m almost two years ago.
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