Japan’s Mitsui OSK Lines is being named as the company behind a pricey floating storage and regasification unit newbuilding ordered for KRW 545.4bn ($413.7m) at Hanwha Ocean in South Korea.

Hanwha Ocean announced on Tuesday that it had won the contract for the FSRU from an unnamed client in Asia.

The shipbuilder said the vessel is due to be delivered by October 2027.