Samsung Heavy Industries Wins Order for Two Ships Worth 270 Billion Won

Received Order for 1 LNG Carrier from Oceania Prehistoric... Additional Order for 1 Tanker
3 Trillion Won Orders in November 'Rush'... Increased Expectations for Additional Year-End Orders

▲Samsung Heavy Industries' LNG-FSRU of the same class built in 2015

[Asia Economy Reporter Hwang Yoon-joo] Samsung Heavy Industries demonstrated strong momentum by securing orders worth over approximately 3 trillion won (2.9 billion dollars) in November alone, raising expectations for additional orders by the end of the year.

On the 30th, Samsung Heavy Industries announced that it had signed a construction contract for one LNG carrier worth 206.2 billion won with a shipping company in the Oceania region. The vessel is scheduled to be delivered by July 2023. With this, Samsung Heavy Industries increased its LNG carrier order backlog to 31 vessels, the largest in the world.

On the same day, Samsung Heavy Industries additionally secured an order for one Suezmax crude oil tanker worth 60 billion won. The Suezmax crude oil tanker is also one of Samsung Heavy Industries' main vessel types. Among the total 28 Suezmax crude oil tankers (including shuttle tankers) ordered worldwide this year, Samsung Heavy Industries accounted for 13 vessels (46%, M/S No.1).

Meanwhile, following a large-scale order worth 2.5 billion dollars last week, Samsung Heavy Industries signed contracts for two vessels within a week, recording a total of 2.9 billion dollars in orders in November alone, raising the cumulative performance to 4 billion dollars. This corresponds to 48% of this year’s total order target of 8.4 billion dollars.

A Samsung Heavy Industries official emphasized, "The recent resumption of orders for the company’s core vessel types such as LNG carriers is a positive signal that the market is gradually recovering," adding, "We will do our best to ensure that the ongoing negotiations lead to actual contracts."

Currently, orders for LNG carriers are being prepared for large LNG projects in Mozambique, Qatar, and other locations, and the container ship market has recently regained momentum, raising expectations for additional orders by the end of the year.

This content was produced with the assistance of AI translation services.