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Home PR Center News

title SHI wins USD 100 million small-LNGC order
date 2017.05.22

Contract signed on 22th May, aims to transport LNG between  

   Tongyeong-Jeju starting in 2019

   Dominating LNGC newbuildings with KC-1, made-in-Korea cargo  

   containment system, also expands to LNG-bunkering vessel market


 Orders in 2017 total 2.3 billion USD comprising 3 LNGCs, 8 tankers,

    and a FPU.

    8 tankers and 2 LNGCs just for this month


Samsung Heavy Industries Co., Ltd.("SHI") revealed on 22th May that they

signed on the day a contract to build two small-scale LNGCs at a total of

about 100 million USD.


The LNG carriers are built for KOGAS to transport LNG from Tongyeong,

Gyeongsangnam-do, to Jeju Island.


The 7,500 LNG vessels would be equipped with KC-1 cargo containment

system designed in Korea. One of the two carriers would be built with LNG

bunkering capability. The delivery dates are May and December of 2019.


The contract is a significant milestone for SHI, developing a leading track

record in KC-1 LNG carriers, as well as expanding into small-scale LNGCs and

LNG-bunkering vessels.


Korean Cargo containment system is solely developed by Korean

technologies by KOGAS with cooperation between the Korean Big 3s.


SHI had won an order to build the first-ever pair of KC-1 174,000 LNGCs in

2015. The newly signed contract further solidifies SHI's leading track record

in the LNGC market.


The contract also signifies SHI's entering into promising small-scale LNGCs

and LNG-bunkering markets.


Increase in LNG demand in China and Southeast Asia is expected to call for

demand for near-sea transport utilizing small-scale LNGCs.


According to the Clarksons Research, small-scales LNGCs under 40,000 had

a annual contracting of only two between 2006 and 2016, but the orders are

expected to boost to 70 vessels for the next 10 years.


0.1% SOx regulation starting in 2020 would also increase demand for

LNG-fueled vessels, which naturally leads to newbuild demand for LNG

bunkering vessels.


SHI has won a total of 2.3 billion USD dollar worth orders for 2017, including

8 tankers, 2 LNGCs, 1 LNG-FSRU, and 1 Floatin Production Unit(FPU).


pre Samsung Heavy wins KRW 2.8 tn FLNG order 2017.06.02
next Samsung builds the world`s first 20,150 TEU containership 2017.03.15

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