Samsung Heavy to Receive Order for Up to Four LNG Carriers

South Korea’s Samsung Heavy Industries (SHI) has received orders for up to four liquefied natural gas (LNG) carrier newbuildings from an undisclosed company.

On April 4, the shipbuilder informed that it signed a contract for two firm 174,000m3 LNG carrier orders with options for two more units, subject to board approval by buyer.

The two firm LNG carriers, which are priced at USD 184 million a piece, would be delivered in July and October 2020, respectively.

SHI said that the vessels would be equipped with Mark-Ⅲ Flex type containment system with re-liquefaction to lower BOG, and powered by the duel-fuel engine X-DF, that can use both natural gas and diesel as fuel.

The order was made on the back of strong LNG carrier spot rates and increasing usage of LNG as fuel, as well as rising gas demands in power generation.

Citing Clarksons Research, the shipbuilder said that gas carrier and containership newbuilding orders are expected to increase with steady global economy and seaborne trade growth. Including 37 this year, total of 194 LNG carriers are to be ordered within the next five years.