SK Shipping Set to Dominate Asia's LNG Market with H-Line Asset Swap
South Korean shipping company SK Shipping is set to become Asia's largest liquefied natural gas (LNG) carrier operator through an asset swap with H-Line Shipping.
The deal, announced by their owner Hahn & Co., involves the transfer of 16 LNG vessels and related long-term contracts to SK Shipping in exchange for 12 tankers, long-term contracts, and approximately $300 million in cash.
Following the transaction, SK Shipping will operate a total of 32 LNG carriers and 14 liquefied petroleum gas (LPG) vessels, making it the third-largest LNG carrier operator globally.
Hahn & Co. plans to rebrand SK Shipping as K-LNG, positioning the company for growth in the expanding LNG market.