rss icon Subscribe
desktop mobile

SHI Wins Order for 2 LNG Carriers

Pic: Samsung Heavy Industries (SHI)

Shailaja A. Lakshmi

South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of two liquefied natural gas (LNG) carriers.

The shipbuilder said in a stock exchange annoucement that it had secured a deal worth KRW 450bn ($381m) with a Bermuda-registered client.

The newbuilds are planned to be delivered by the end of June 2022. With the addition of the latest order, SHI has seen its orders for LNG carriers reach 10 units. SHI revealed that its orderbook for 2019 now stands at eleven vessels, including one floating production storage and offloading (FPSO) vessel, worth USD 3 billion.

According to Pulse news, SHI contracts accomplishes 38 percent of its annual goal of $7.8 billion. Its order backlog has reached $20.3 billion, recovering above the $20-billion level for the first time since March last year.

The company said its strategy to focus on high value-added ships such as LNG carriers and offshore plants have helped to secure new orders.

Meanwhile, Samsung Heavy Industries announced the design of its LNG-powered, 300,000-ton very large crude carrier (VLCC) was awarded the approval in principle (AiP) by Lloyd`s Register, a leading international provider of classification.

The Korean shipbuilder's new VLCC uses its proprietary LNG fuel supply system "S-Fugas" and fuel-saving device "Saver Air.

Jun 7, 2019



Baltic Index Sags as Rates Slip

AdobeStock / Credit © Lidian Neeleman

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk

Exxon, Trafigura Tap Lower Freight Rates

A VLCC loads crude oil in the port of Corpus Christi, TX (File image / credit Port of Corpus Christi)

U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as

MSC Cruises Returns to Thordon to Keep Seashore Clean

Photo: Thordon Bearings

Thordon Bearings has received an order to supply a water-lubricated propeller shaft bearing


LR Grants Jiangnan AiP for VLGC Design

(Photo: Lloyd's Register)

Classification society Lloyd's Register has awarded Chinese shipbuilder Jiangnan Shipyard (Group)

SAFE Recently Delivered 19th Boat to FDNY Fleet

Photo: SAFE Boats International

SAFE Boats International (SAFE), delivered boats 17, 18 and 19 to the marine division of the New

Total’s First LNG Bunker Vessel Launched

Photo: Total

Total said its first large liquefied natural gas (LNG) bunker vessel has been launched

Maritime Apps