The merger will create Asia’s largest LNG carrier operator with 16 vessels and $300 million in cash exchanged.
South Korean private equity firm Hahn & Co is consolidating the LNG carrier fleets of SK Shipping and H-Line Shipping to form Asia’s largest operator. SK Shipping will acquire 16 LNG carriers and long-term contracts from H-Line in exchange for 12 tankers, contracts, and $300 million in cash.
The combined fleet will rank as the world’s third-largest LNG carrier operator, following the deal announced by Hahn & Co. The reshuffle aims to streamline operations and leverage long-term charter agreements in the growing LNG market.
No immediate market reaction was disclosed, but the consolidation is expected to strengthen the firms’ positioning in global energy logistics.