Two small-scale LNG carriers have been contracted at around $50m each to supply LNG to Jeju Island in South Korea, according to LNG shipbuilding sources.

Contracts on the 7,500-cbm newbuildings were inked between Korea Line Corp (KLC) and Samsung Heavy Industries (SHI) this week following a tender process that was concluded last month. SK Shipping, KSS Line, Hyundai LNG Shipping, H-Line, Polaris Shipping and Gwangyang Shipping also bid for the ships.