HJSC lands $87M deal for dual-fuel LNG bunkering ship

South Korea-based HJ Shipbuilding & Construction (HJSC) has clinched its inaugural order this year for an 18,000 cbm liquefied natural gas (LNG) bunkering vessel for compatriot shipping player H-Line Shipping.

It is understood that the contract is worth KRW 127.1 billion (about $87.47 million). As disclosed, the newbuild is a large-scale LNG bunkering ship boasting 144 meters in length, 25.2 meters in width, and 12.8 meters in depth. The exact delivery date for the unit is yet to be announced.

According to HJSC, the vessel features a dual-fuel propulsion system, enabling it to run on both eco-friendly LNG as well as marine diesel oil. It has also been fitted with two LNG tanks certified by the International Maritime Organization (IMO), the company said.

As a result, the ship is expected to provide stability and operational efficiency while leaving a minimal impact on the environment.

This latest order is related to the concept the South Korean player revealed back in 2023. In May of that year, HJSC introduced a new 7,500 cbm LNG bunkering vessel for which it secured approval in principle (AiP) from the UK-based classification society Lloyd’s Register (LR).

In addition to the LNG/MGO dual-fuel capability, it was shared that the new ship was ballast-free, allowing it to operate without the inflow and outflow of ballast water.

LNG bunkering vessels—which have been nicknamed ‘floating gas stations’ since they enable ships to receive fuel directly at sea without docking—are considered a ‘vital’ link in the chain toward carbon neutrality, especially since liquefied natural gas itself has been seen by many as a critical clean fuel for the maritime industry’s decarbonization goals.

At present, with the anticipated expansion of oil and natural gas drilling and the recommencement of LNG exports under President Donald Trump’s second turn at the helm of the US following a tumultuous period surrounding the potential export ban, the market for crude oil carriers, LNG carriers, and LNG bunkering vessels is expected to see ‘tremendous’ growth.

According to a 2021 forecast by TotalEnergies Marine Fuels, a bunkering unit of French energy titan TotalEnergies, worldwide LNG bunkering demand was predicted to balloon from 400,000 tons per year in 2017 to 10 million tons a year by 2025.

More recent projections, however, present an even stronger picture, with the number skyrocketing to 20-25 million tons by 2030 and reaching a whopping 53.2 million tons in 2040, with a CAGR spike of 42.6% during the forecast period 2025–2033, as per a February 2025 analysis by Astute Analytica.

“As global LNG demand and supply continue to grow, the LNG bunkering vessel market will see steady expansion,” Sang-cheol Yoo, CEO of HJSC, highlighted.

“We will focus on strengthening our expertise in building eco-friendly, high-value-added ships, securing a competitive edge that aligns with our legacy as a leader in shipbuilding,” he added.

HJSC has had a long ‘tradition’ within the LNG bunkering landscape. The shipbuilding player was behind the delivery of what was described as the “world’s first” 5,100 cbm LNG bunkering ship to Japan’s shipping heavyweight NYK Line back in 2014, as well as the “first-ever” universal 5,100 cbm bunker, Engie Zeebrugge.

The unit was handed over in 2017 to NYK and it was chartered to Titan, a Dutch independent LNG supplier, in 2021.

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