POSCO introduces 1st LNG carrier for energy business expansion

The HL Fortuna LNG carrier / Courtesy of POSCO Group

POSCO Group has introduced its first liquefied natural gas (LNG) carrier, marking a significant milestone for its expansion into the energy business, the company said Sunday.

With the new LNG vessel, POSCO aims to establish a stable energy transport system and bolster its ability to preemptively respond to global supply chain challenges.

POSCO International held a naming ceremony on Saturday for the HL Fortuna — the group's first independently secured LNG carrier — at HD Hyundai Samho's shipyard in Mokpo, South Jeolla Province. Fortuna is Latin for "luck."

The introduction of the vessel is seen as part of POSCO’s long-term LNG procurement strategy. Under the plan, POSCO International is responsible for LNG procurement, while HD Hyundai Samho builds the vessel. H-Line Shipping will be in charge of its operation.

The HL Fortuna measures 299 meters in length and 46.4 meters in width, with a storage capacity of 174,000 cubic meters. It is optimized for transporting North American LNG. A single load of LNG can supply South Korea with enough natural gas for approximately 12 hours.

Equipped with a dual-fuel propulsion system that uses LNG as its primary fuel, the vessel also features a high-efficiency reliquefaction system that recycles vaporized gas during transport — allowing it to comply with international environmental regulations.

After its delivery, scheduled for Tuesday, the ship will start its global LNG trading operations in the second half of this year. Starting in 2026, it will transport LNG from the Cheniere terminal in Louisiana for both domestic use and overseas trading.

The vessel is expected to make more than five round trips annually to POSCO International’s LNG terminal in Gwangyang, South Jeolla Province, carrying LNG secured under long-term supply agreements from North America.

POSCO International has already signed a long-term contract with Cheniere Energy for 400,000 tons of LNG annually and another with Mexico Pacific for 700,000 tons, expanding its LNG import base.

The company is also seeking to secure additional LNG carriers for future shipments from Mexico.

“With the introduction of this LNG carrier, POSCO’s value chain — from gas field production to import, storage and power generation — has been significantly improved,” a POSCO International spokesperson said.

“It also serves as a crucial foundation for enhancing energy security amid growing global protectionism.”

The company added it plans to continue expanding its fleet to improve supply stability and trading efficiency.

A group of key executives also attended its naming ceremony. They include POSCO International CEO Lee Kye-in, POSCO Vice President Lee Yoo-kyung, HD Hyundai Samho President Kim Jae-eul and H-Line Shipping CEO Seo Myung-deuk. They discussed future ties while attending the event.