MID-SIZED South Korean shipyard HJ Shipbuilding & Construction is making greater inroads into the market for liquefied natural gas bunker vessels as market demand for these types of vessels spikes.

HJSC announced it had secured a Won127.1bn ($87.5m) contract from compatriot H-Line Shipping to build a dual-fuel powered 18,000 cu m LNG bunker vessel. No delivery date was disclosed.

The latest deal also marks HJSC’s first order of 2025. The shipyard turned to a profit in 2024 and is sitting on a record high orderbook.

The company has previously built a 5,100 cu m LNG BV for Japan’s NYK Line which went into service for Engie in 2017.

LNG bunkering demand in northern Asian ports especially has been rising as the number of LNG-powered vessels coming online increases. LNG supply from new sources is also seen rising, which in turn is expected to increase competition and drive down bunkering margins, which should raise demand.

Leading bunker supplier TotalEnergies Marine Fuels has forecasted that global LNG bunkering demand will surge from 400,000 tonnes per year in 2017 to 10m tonnes per year by 2025.

HJSC chief executive Yoo Sang-cheol said: “As global LNG demand and supply continue to grow, the LNG bunkering vessel market will see steady expansion.”