Seaspan, Hyundai Glovis order LNG-powered PCTCs in China

Hyundai Glovis

Seaspan and Hyundai Glovis joined forces to order six large LNG dual-fuel pure car and truck carriers from China’s Shanghai Waigaoqiao Shipbuilding (SWS).

The deal for the PCTCs with a capacity of 10,800 ceu also includes an option for four additional vessels, according to Seaspan’s parent Atlas.

Besides LNG dual-fuel propulsion, the PCTCs will be ammonia and methanol-ready, it said.

“The vessels will be under long-term time charter upon delivery and, as the largest PCTCs under development to date, will bring unparalleled quality, scale, and flexibility to Glovis,” the statement said.

With this PCTC order, Canada-based Seaspan enters a new segment and adds to its existing 70-vessel newbuild program which includes 25 dual-fuel LNG containerships.

Seaspan did not provide the price tag of the deal.

CSSC’s SWS said in a separate statement that the vessels will have 14 car decks and that the yard now has in total 16 PCTCs on order.

Image: Atlas

South Korea’s Hyundai Glovis recently revealed plans to order 12 LNG dual-fuel car carriers worth about $1.84 billion.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group said its board approved the investment on October 26.

The firm said at the time that it expects to take delivery of the final vessel in September 2027.

Hyundai Glovis had 116 vessels in its fleet as of the end of the last year, including over 80 PCTCs, its website shows.

Last year, Hyundai Glovis also entered the LNG transportation business after signing a 10-year charter deal for one newbuild LNG carrier with Australia’s Woodside.

Real Estate Investor Pulse

1031 Exchange E-Book

ENB Top News 
ENB
Energy Dashboard
ENB Podcast
ENB Substack

About Stu Turley 3361 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.