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    SHI lands order for LNGC pair

Summary

The order was placed by a shipowner in the Oceania region.

by: Joseph Murphy

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Corporate, Contracts and tenders, News By Country, South Korea

SHI lands order for LNGC pair

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured an order worth 417bn won ($376mn) to build two LNG carriers, the company said in a stock exchange filing on May 31.

The order was placed by a shipowner in the Oceania region and SHI is due to deliver the vessels by July 15, 2024. They will feature air lubrication technology, which improves fuel efficiency by reducing resistance between the ship and the water, and a generator that uses the rotational force of the propulsion engine shaft to generate electricity, SHI said. This will make the vessels environmentally cleaner to operate.

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"The demand for eco-friendly technologies that increase energy efficiency is increasing as a result of stricter greenhouse gas emissions regulations," SHI said.

The shipbuilder estimates it has secured 44 vessel orders so far this year worth a combined $5.4bn. It has raised its full-year target from $7.8bn to $9.1bn.