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News

Home PR Center News

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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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