Samsung Heavy Industries Wins Order for Four Container Ships Worth 529 Billion KRW

Cumulative Orders from January to May Reach Highest Since $6 Billion Record in 2012

▲The 'MOL TRIUMPH,' the world's largest container ship with a capacity of 21,500 TEU, built by Samsung Heavy Industries

[Asia Economy Reporter Hwang Yoon-joo] Samsung Heavy Industries announced on the 1st that it has secured orders for four large container ships worth a total of 529 billion KRW from shipowners in the Asia region. Samsung Heavy Industries plans to deliver them sequentially by February 2024.

The container ships ordered this time are ultra-large vessels capable of carrying 13,000 twenty-foot (ft) containers. In particular, they are eco-friendly smart ships equipped with ▲Selective Catalytic Reduction (SCR) for nitrogen oxide reduction and Ballast Water Treatment System (BWTS) ▲various Energy Saving Devices ▲and the smart ship solution SVESSEL, enabling economical and safe navigation.

Including this contract, Samsung Heavy Industries has secured a total of 48 ships worth 5.9 billion USD this year, comprising 38 container ships, 7 crude oil carriers, and 3 LNG carriers, achieving 65% of this year's target of 9.1 billion USD. This performance surpassed last year's total order volume of 5.5 billion USD in just five months and is the largest cumulative order volume from January to May since 2012, when it reached 6 billion USD.

In fact, with expectations of global economic recovery and the rebound of maritime cargo volume this year, ship orders have increased significantly, rapidly filling the docks of shipyards where ships can be built, causing newbuilding prices to continue rising.

The Newbuilding Price Index announced by Clarkson Research, a UK-based maritime market analysis firm, has risen for six consecutive months since recording 125.0 points in November last year, reaching 136.1 points as of the end of May, up 9%. This is the highest level since December 2014 (137.8 points).

A Samsung Heavy Industries official stated, "As shipyards quickly secure orders, the value of remaining dock slots is gradually increasing," adding, "We will do our best to achieve satisfactory results in both quantity and quality through selective orders focused on profitability."

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