Samsung Heavy Industries Clinches Orders for 2 Ships Worth 270 Bil. Won

Samsung Heavy Industries (SHI) announced on Nov. 30 that it has signed a contract with a shipping company in Oceania to build one LNG carrier for 206.2 billion won. It also won a 60 billion won order for a Suezmax crude oil carrier. The shipbuilder’s order intake reached US$2.9 billion in November alone.

The latest deal boosts SHI’s LNG carrier order backlog to 31 units, the largest backlog among shipyards around the world. The company has also become the No. 1 player in the global Suezmax crude carrier market by taking 13 (46 percent) of the 28 units ordered this year.

SHI is expected to win more orders this month in light of a usual rush of orders at the end of the year. Industry watchers predict that promoters of the Mozambique LNG project will place orders for a total of 16 LNG carriers within this year.

SHI’s order receipts so far this year amounted to about US$4 billion, 56 percent of the US$7.1 billion recorded a year ago.

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