Norwegian shipowner Knutsen Group has strengthened its LNG carrier construction pipeline with another newbuilding order at Hanwha Ocean in South Korea.
The latest contract covers one 174,000 cu m LNG carrier valued at about $250 million, with delivery planned by September 2029. Market sources linked the vessel to an option previously held by Knutsen Group at the yard.
The deal raises Knutsen Group’s LNG carrier order book at Hanwha Ocean to nine vessels. Its wider LNG portfolio now stands at 52 carriers, including 40 vessels in operation and 12 under construction.
The order is part of a wider expansion drive. In recent financial disclosures, Knutsen Group said the nine LNG carriers ordered since late December 2025 represent a total capital expenditure of about $2.3 billion.
Initial yard installments are expected to be paid from the company’s own funds. Most remaining construction costs are planned to be financed through senior credit facilities.
Knutsen Group has built its LNG business around long-term charters with investment-grade customers. The company said most of the Hanwha Ocean newbuilding program already has charter coverage. One LNG carrier due for delivery in 2029 remains unfixed and available for employment.
