London-based investment platform Hayfin Capital Management has returned to the LNG carrier sector with an order for two large newbuildings at South Korea's HD Hyundai Heavy Industries. Shipbroking and market sources have linked Hayfin to the order for two 174,000-cbm LNG carriers, with deliveries scheduled by the end of March 2029.
Parent company of the yard group HD Korea Shipbuilding & Offshore Engineering disclosed the contract on Thursday, saying only that it had secured an order from an Oceania-based client. The deal is valued at KRW743.9bn ($497m), or roughly $248.5m per vessel. The contract marks Hayfin's first move into LNG carrier newbuildings after previously investing in the sector through secondhand tonnage and financing activities.
The latest move signals a broader push by Hayfin to expand its shipping portfolio under its maritime division, led by Andreas Povlsen. The company has been increasingly active across several shipping segments over the past two years. Earlier this year, Hayfin contracted HD Hyundai for four 50,000 dwt MR2 product tankers, with deliveries expected to begin from the first quarter of 2028.
The investment platform has been active in the secondhand dry bulk market over the past two years, picking up capesize vessels as part of a wider fleet expansion strategy. On the sale side, Hayfin recently offloaded a pair of suezmax tanker newbuildings at a profit to Greece's Capital Group. Sources close to the market also said Greek owner Evalend Shipping had sold two LNG carrier construction slots at Hyundai Heavy Industries to Hayfin for 2029 delivery, further underlining the investor's return to the gas shipping segment.
The LNG carrier order comes amid another active period for the Korean yard group, with the gas shipping arm of Singapore-based BW also signing up for two LNG carriers at HD Hyundai Samho earlier this week.
Key Takeaways:
1. Hayfin Capital Management has ordered two 174,000-cbm LNG carriers from HD Hyundai Heavy Industries.
2. The deal is valued at $497 million in total, or approximately $248.5 million per vessel.
3. Deliveries are scheduled by the end of March 2029.
4. This order marks Hayfin's first entry into LNG carrier newbuildings.
5. Hayfin had also contracted four MR2 product tankers for delivery starting in 2028.
