Seapeak orders up to five dual-fuel LNG carriers

LNG carrier owner and operator Seapeak has ordered a total of five dual-fuel LNG carriers that will be chartered to an international energy major for 10 years.

PHOTO: Teekay LNG’s (which has been renamed Seapeak) LNG carrier Vladimir Voronin. Teekay

The 174,000 cbm LNG carriers will be built by South Korean shipbuilder Samsung Heavy Industries at a cost of $1.1 billion and are scheduled to be delivered in 2027.

Upon completion, these LNG carriers will be chartered to an international energy major for a period of 10 years, with an option for further extensions.

Seapeak’s fleet currently comprises 46 LNG carriers, 20 mid-size LPG carriers (including two on order) and six multi-gas carriers.

LNG has been gaining attention as the preferred near-term alternative fuel of choice among shipowners to reduce emissions.

Classification society DNV’s data shows that the number of LNG-powered vessels in operation or on order has gone up by 143 since last year, to 389 this year.

This number is projected to more than double in the next few years. A total of 855 LNG-powered vessels are on order for deliveries towards 2028.

By Tuhin Roy

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