SK Shipping and H-Line Merge to Create LNG Giant

Korea's two shipping companies, SK Shipping Co. and H-Line Shipping Co., are joining forces to create one of the world's largest operators of liquefied natural gas (LNG) carriers.

The deal involves a tanker swap, where SK Shipping will receive 16 LNG vessels and their long-term contracts from H-Line in exchange for 12 tankers, their contracts, and approximately $300 million in cash.

This move is expected to strengthen the combined entity's position in the global LNG market.