Posco International signs a charter deal with H-Line

Posco International, the trading arm of South Korean steelmaker Posco, has penned a charter deal with compatriot H-Line Shipping for a newbuild liquefied natural gas (LNG) carrier.

The 174,000 cu m vessel will be built by Hyundai Samho Heavy Industries and delivered in the first half of 2025.

The company, which merged with Posco Energy in January, will use the ship to procure gas for trading, including some 0.4 mtpa of shale gas it plans to bring to South Korea from the US from 2026 to 2046.

The South Korean LNG sector has 34 carriers, most of which are operated by state-run Korea Gas Corp. (KOGAS), while among private LNG players, SK E&S operates chartered vessels. POSCO International said it will look to secure additional ships as part of its LNG business ambitions and stable domestic supply.