SK Shipping and H-Line swap vessels to create Asia's largest LNG operator

(1) South Korea's SK Shipping and H-Line Shipping (both controlled by Hahn & Co.) are carrying out a ship and contract swap. Upon completion, this transaction will create the largest LNG (liquefied natural gas) carrier operator in Asia.(2) The specific swap plan is as follows: SK Shipping will receive 16 LNG carriers and corresponding long-term contracts from H-Line; in exchange, SK Shipping will provide H-Line with 12 oil tankers and their contracts, along with approximately $300 million in cash.(3) The deal will double SK Shipping's LNG fleet to 32 ships, making it the third largest LNG carrier operator globally and the largest in Asia.