Samsung Heavy Industries newbuilding orders continue to rise

Samsung Heavy Industries (SHI) has secured a contract for a 180,000 cubic metre LNG carrier newbuilding, following approval by the board of an overseas owner.

The contract, is subject to agreement on the shipbuilding contract terms, which are scheduled to be agreed by March 9, 2018.

SHI have granted an option for a further shipbuilding contract which remains subject to overseas owner board approval.

SHI’s 2018 orders so far include eight containerships, one LNG carrier, and two tankers totalling 11 vessels worth $1.03bn. The new LNG carrier contract would extend the order total to 12.

Last year, SHI won $3.3bn worth of LNG related newbuilding orders including three LNG carriers, two LNG-FSRU, and a FLNG.

A SHI representative said: “growing demand for eco-friendly LNG would boost newbuilding market from this year.”

He explained: “[SHI’s] clear leadership in this market is based on accumulated technology and experience from building 110 LNG carriers and many of the pioneering projects. We intend to continue to lead this value-added market for 2018 and beyond.” 

12th March 2018