SHI Secures Order for Six LNG Carriers

Samsung Heavy Industries has secured orders for six LNG carriers from two shipowners from Oceania.

The vessels, two for one owner, four for the other, are expected to be delivered starting November 2028.

Business Korea reports that Samsung Heavy Industries has secured orders for seven LNG carriers, nine shuttle tankers, two ethane carriers, four crude oil tankers, two container ships, and one offshore production facility (pre-work) this year.

Samsung Heavy Industries is expected to secure part of the Mozambique FLNG project and conclude the main contract within the third quarter. The company is also negotiating a deal for the construction of a FLNG for a Norwegian company.

South Korea's market share in the global shipbuilding market has been declining over the past four years, and the government has announced a 10-year investment plan to help businesses develop smart and clean energy technologies for the shipbuilding industry.

South Korea is also taking up the efficiency challenge in one of its key strengths – LNG carriers. Korean Register has signed a MoU with Samsung Heavy Industries to jointly develop a 174,000cbm LNG carrier featuring three cargo tanks. Reducing the number of tanks is expected to lighten the hull, thereby improving fuel efficiency and decreasing natural boil-off of LNG, ultimately reducing operating costs. Fewer tanks also mean fewer onboard pumping systems, which simplifies maintenance and reduces long-term operational expenses.