South Korea’s Samsung Heavy Industries has won five orders for LNG ships exceeding US$1.1 billion in two consecutive days, and the number of LNG ship orders it has undertaken since the beginning of this year has reached 10. On May 17, Samsung Heavy Industries announced that the company signed a construction contract for three large LNG ships with an African shipowner, with a contract value of 862.3 billion won (about 674 million US dollars) and a single ship cost of about 224.67 million. Dollar.
The cargo tank of the LNG carrier undertaken by Samsung Heavy Industries adopts the membrane type design, the Mark-III Flex cargo containment system of the French GTT, and is also equipped with an X-DF dual-fuel low-speed engine, which uses fuel oil and boil-off gas from the LNG cargo tank during sailing. power. The three LNG ships are scheduled to be delivered successively by January 2026.
On May 18, Samsung Heavy Industries announced that it has signed a construction contract for two large LNG carriers with shipowners in the Oceania region, with a contract value of 591.3 billion won (about 461 million US dollars). It is worth mentioning that the price of the latest order is about US$230.95 million, an increase of about US$6.3 million compared to the order price on May 17.
Prior to this, Samsung Heavy Industries announced on February 23 that it had signed a construction contract for four large LNG carriers with shipowners in Africa, with a contract value of 998.5 billion won (about 838 million US dollars); Shipowners in Oceania signed a construction contract for a large LNG carrier with a contract value of 263.3 billion won (about 217 million U.S. dollars).
In addition to the two latest construction contracts in May, Samsung Heavy Industries has increased its cumulative order performance this year to 19 ships, including 10 LNG ships and 9 container ships. The contract value is 3.3 billion US dollars, reaching the annual order target of 88%. 38% of $100 million.
So far, among the 19 new ship orders that Samsung Heavy Industries has undertaken this year, there are 14 orders for LNG-powered high-value-added environmentally friendly ships, with a contract value of about US$2.6 billion, accounting for 79% of the total order volume. By adopting a profitability-centric order-taking strategy, Samsung Heavy Industries is steadily increasing its orders on hand.
An official from Samsung Heavy Industries said, “Currently, there is an increase in global LNG production, the need for replacement due to the strengthening of the International Maritime Organization (IMO) new environmental protection regulations, and expectations for an increase in LNG shipping by sea due to the conflict between Russia and Ukraine. , which further stimulated new demand in the LNG ship market. Coupled with the tight dock resources of shipbuilders, it is expected that the upward trend in the price of LNG ships will continue for some time.”
The 174,000-cubic-meter-class LNG carrier cost $224 million for new buildings based on the end of April, up about 20 percent from $186 million at the end of 2020, according to Clarksons.
Samsung Heavy Industries said it expects the ordering trend of LNG ships to continue this year, considering the increase in global LNG shipments and the need for renewal of ships due to the strengthening of the new International Maritime Organization (IMO) environmental protection regulations. Based on the advantages of environmental protection technology and solid orders, the company will make every effort to achieve the goal of receiving orders this year. (Wang Chu)