Published On: Tue, Jun 12th, 2018

Turkey’s BOTAŞ places order for 2 ships with South Korea’s Hyundai Heavy Industries

Turkey’s BOTAŞ places order for 2 ships with South Korea's Hyundai Heavy Industries

Turkey’s “Pipelines and Petroleum Transportation Company” (BOTAŞ) has ordered 2 vessels to be produced at the shipbuilding yard of Hyundai, in South Korea. BOTAŞ became another company to place an order for vessels with Hyundai, after Turkey’s GEDEN Lines owned which had placed an order for TL 800 million with the same company.

BOTAŞ which is increasing its investments in its Floating Storage Regasification Unit (FSRU) called floating LNG storage and gasification system, ordered two FSRUs, each worth US$ 225 million, corresponding to TL 1 billion. The total cost of the two ships will be over $ 450 million, or 2 billion liras. Storage capacities of FSRUs planned to be 295 meters long and 46 meters wide are targeted at around 170 thousand cubic meters. Based on the agreement between Hyundai and BOTAŞ is made, the vessels will be delivered in the first half of 2020.

Last month Geden Lines, owned by Mehmet Emin Karamehmet of Çukurova Holding placed an order for 4 vessels with Samkang M & T of South Korea. Samkang M & T, whose shares are traded on the South Korean Stock Exchange, will build an 113,000 dwt Aframax type ship for GEDEN. The total value of the four vessels is $ reported to be calculated at US$ 176 million.

Analytics Made Easy - StatCounter