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Seapeak orders LNG newbuilds from Samsung Heavy Industries

Published by , Deputy Editor
LNG Industry,


Seapeak LLC has entered into shipbuilding contracts for the construction of five, 174 000 m3 M-type, electronically controlled, gas admission (MEGA) propulsion LNG carrier newbuildings.

The LNG carriers will be constructed by Samsung Heavy Industries Co., Ltd for a total fully built-up cost of approximately US$1.1 billion and are scheduled for delivery in 2027.

Upon their deliveries, the five LNG carriers will each operate under a fixed-rate time-charter contract with an international energy major for a firm period of 10 years, each of which can be extended at the option of the charterer.

Seapeak expects to finance the initial newbuilding construction instalment payments by way of an equity contribution from investment funds managed by its sponsor, Stonepeak. In due course, Seapeak expects to secure long-term debt funding to finance the remaining construction costs.

Read the article online at: https://www.lngindustry.com/lng-shipping/25112022/seapeak-orders-lng-newbuilds-from-samsung-heavy-industries/

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New-build LNG news