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POSCO Launches First LNG Carrier to Strengthen Energy Business
POSCO Launches First LNG Carrier to Strengthen Energy Business

POSCO Launches First LNG Carrier to Strengthen Energy Business

  • 26-May-2025 6:30 PM
  • Journalist: William Faulkner

POSCO Group has launched its first liquefied natural gas (LNG) carrier, signaling a major step forward in its push to expand into the global energy market. The move is intended to establish a stable energy transport network and enhance the company鈥檚 ability to navigate global supply chain disruptions.

POSCO International hosted a naming ceremony Saturday for the vessel, HL Fortuna, at HD Hyundai Samho鈥檚 shipyard in Mokpo, South Jeolla Province. The name Fortuna 鈥 Latin for 鈥渓uck鈥 鈥 reflects the company鈥檚 optimism about the future of its energy operations.

The HL Fortuna is the group鈥檚 first LNG carrier secured independently. The vessel is part of POSCO鈥檚 broader strategy to bolster LNG procurement capabilities. Under the initiative, POSCO International handles LNG sourcing, HD Hyundai Samho oversees construction, and H-Line Shipping will operate the vessel.

The carrier measures 299 meters long and 46.4 meters wide, with a storage capacity of 174,000 cubic meters. It is specially designed to transport LNG from North America. A single shipment from the vessel can supply South Korea with enough gas for roughly 12 hours.

Equipped with a dual-fuel propulsion system, the HL Fortuna uses LNG as its primary fuel and features a high-efficiency reliquefaction system that recycles vaporized gas during transport. This advanced technology allows the vessel to meet international environmental standards.

Following its delivery on Tuesday, the ship will begin global LNG trading operations in the second half of the year. Beginning in 2026, it will regularly transport LNG from the Cheniere terminal in Louisiana for both domestic and international markets. It is expected to complete more than five round trips each year to POSCO International鈥檚 LNG terminal in Gwangyang, South Jeolla Province, under long-term supply contracts with North American partners.

POSCO International has already signed agreements with Cheniere Energy to import 400,000 tons of LNG annually and with Mexico Pacific for an additional 700,000 tons. These deals are part of the company鈥檚 effort to diversify and strengthen its LNG supply base. POSCO also aims to acquire additional LNG carriers to support future shipments from Mexico and improve trading efficiency.

Executives attending the naming ceremony included POSCO International CEO Lee Kye-in, POSCO Vice President Lee Yoo-kyung, HD Hyundai Samho President Kim Jae-eul and H-Line Shipping CEO Seo Myung-deuk. The group discussed future collaboration as POSCO continues to expand its presence in the global energy market.

Tags:

Natural Gas

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