Qatar’s huge slot agreement on more than 150 LNG carrier berths has fallen foul of the steel price hike as the cost of newbuildings has climbed by over $30m a ship.
Newbuilding brokers and owners told TradeWinds that Qatar Petroleum’s original deed of agreements with Hudong-Zhonghua Shipbuilding (Group) of China and South Korea’s big three yards — Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries — contains clauses covering the renegotiation of newbuilding prices if the material costs of vessels increased.
