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Hahn & Co plan to reshuffle LNG fleets to expand SK Shipping

The deal would move 16 LNG carriers and long term contracts into SK Shipping, in exchange for 12 tankers, related contracts, and about $300 million in cash.

Reported · Written up by our desk · Energy

South Korean private equity firm Hahn & Co said it plans to reshuffle liquefied natural gas tanker fleets between its shipping holdings SK Shipping and H-Line Shipping, aiming to build Asia’s largest LNG carrier operator and the world’s third-largest.

Under the agreement announced by Hahn & Co, SK Shipping will receive 16 LNG carriers plus related long-term contract backing from H-Line Shipping, while H-Line Shipping will receive 12 tankers, long-term contracts, and about $300 million in cash.

After the transaction closes, SK Shipping would be positioned to operate up to 32 LNG carriers and 14 liquefied petroleum gas vessels, while H-Line Shipping would shift toward a tanker and bulk shipping-focused model.

The reshuffle comes as South Korea faces rising LNG demand despite heightened geopolitical uncertainties, and Hahn & Co said long-term contracted LNG fleet capacity would support South Korean gas shippers. The article also points to expectations for global LNG demand to rise by 65% by 2050 from 2025 levels, with further growth projected this year.

Latest closeNat gas $2.788 ▲0.8%

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