SHI to secure 1+1 LNGC order

5 March 2018

• Overseas owner approves a 180K LNGC investment with an option

• SHI cruising to the 8.2 billion USD 2018 order target

Samsung Heavy Industries("SHI") revealed on March 5, 2018 that one 180K ㎥ LNG carrier newbuilding has been approved 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 8 containerships, 1 LNG carrier, and 2 tankers totaling 11 vessels worth 1.03 billion USD. The new LNGC contract would extend the order total to 12.

Last year, SHI won 3.3 billion USD worth LNG related newbuild orders including 3 LNGC, 2 LNG-FSRU, and a FLNG, strongly reminding the industry of its competitive edge at work.

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 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."


Photo: Samsung Heavy Industries Co. Ltd.

Samsung Heavy Industries, press release