Hyundai Heavy Industries, the world’s largest shipbuilder, won an $850 million deal to build high value-added liquefied natural gas carriers.

The company signed the deal late on Thursday with Malaysia’s state-run energy company Petronas to build four LNG carriers, each of 150,000 cubic meters, officials said on Friday.

The mega-sized carriers, unlike conventional “Membrane” type carriers, are so-called “Moss” types, indicating that the hull and the freight sections are built separately. Once completed, each ship will comprise of a double-layered body and four globular-shaped aluminum tanks.

The Moss type LNG carriers, despite their relatively high price, are preferred by some of the top-ranking oil companies because of their stability.

HHI is currently the only one among local shipbuilders with the capacity to construct a Moss type LNG carrier, and the Petronas deal was the first order of its type to take place in 12 years, officials said.

Upon this order, the company has so far recorded $20.7 billion in the shipbuilding and offshore plant business sector, which is 87 percent of its yearly target of $23.8 billion.

(tellme@heraldcorp.com)