HD Hyundai Marine sets sights on LNG vessel retrofitting in Trump era

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HD Hyundai Marine sets sights on LNG vessel retrofitting in Trump era - Korea Economic Daily

Quick Summary:

With US President Donald Trump off to his second term earlier this month, HD Hyundai Marine sees even greater business opportunities as the US government seeks to expand liquefied natural gas (LNG) exports.“We expect to secure a decent project to covert an aged LNG carrier into a floating storage regasification unit (FSRU) in the second half,” said a company executive during an earnings conference call on Tuesday.

When the global shipbuilding industry was reeling from the economic slowdown in recent years, South Korea’s HD Hyundai Marine Solution Co., a ship repair and maintenance service unit of the world’s No.1 shipbuilder HD Hyundai Heavy Industries Co., saw a silver lining in the cloud.

Industry watchers said HD Hyundai Marine, the only Korean company with such ship conversion technology, stands to benefit from the rising demand for converting aged LNG carriers into floating LNG terminals.