[ Halla to make LNG carrier bid ]

Halla Engineering &Heavy Industries plans to enter the bidding for LNG
carriers sought by Korea Gas Corporation.
Halla is striving for a breakthrough on the LNGC market as part of its
business strategy for the major new shipyard it is developing on Kore
a’s southwest coast.
According to sources concerned, the South Korean Group has entered int
o a technical agreement with French designer and lincensor Technigaz c
overing the latter’s membrane-type cargo containment system.
Although South Korea’s projected imports of LNG are likely to create
a need for 10~12 Korean-owned LNGCs by the beginning of next century,
Halla will face intense domestic competition in its drive for a share
of the anticipated newbuilding work.
Its initial target is the fifth vessel in the series of vessels of 125
,000~130,000 cubic meter capacity crygenic tankers that will surport l
ong term shipments of gas sourced in southeast Asia.
The tentative schedule calls for a fifth ship to be ordered ath the st
art of next year. She will probably be operated by Yukong Line, under
contratual agreements with KGS.
Korea’s first LNG carrier, the 125,000 cubic meter Hyundai Utopia, is
nearing completion at Hyundai Heavy Industries’ Ulsan complex. She w
ill be operated by Hyundai Merchant Marine to serve shipments of Indon
esian gas for KSG.
She embodies the Moss spherical tank containment system, although HHI
also has licences to build Gaz Transport and Technigaz membrane-type t
anks.
The second ship in the programme was also ordered from HHI to the Moss
design, and is to be run by Yukong Line.
The Gaz Transport membrane system was selected for the third vessel, w
hich has been entrusted to Hanjin Heavy Industries(HHIC) as shipbuilde
r and Hanjin Line as shipowner. Daewoo Shipbuilding has been subcontra
cted 30% of the work on the 130,000 cubic meter newbuilding.
The fourth unit in the series was awarded to Hyundai Heavy Industries
towards the end of last year, in a deal which ties in Hyundai Merchant
Marine as ship operator.