SK Shipping of South Korea and H-Line are swapping vessels, which will create the largest liquefied natural gas operator in Asia.

Two Korean companies under Hahn & Co., SK Shipping and H-Line Shipping, are undergoing a vessel and contract swap, which will create the largest liquefied natural gas (LNG) shipping operator in Asia. Seoul-based private equity firm Hahn & Co. announced on Thursday that SK Shipping will receive 16 LNG carriers and related long-term contracts from H-Line. In exchange, SK Shipping will provide H-Line with 12 oil tankers and their contracts, plus approximately $300 million in cash. This transaction will double the size of SK Shipping's LNG fleet to 32 vessels, making it the third largest LNG shipping operator in the world and the largest in Asia.