POST Online Media Lite Edition



 

SHI wins order for three LNG carriers worth $620 million

Staff writer |
Samsung Heavy Industries announced that it had won an order from an Asian ship owner amounting to $620 million for three LNG carriers.

Article continues below






The Eco-friendly LNG carriers purchased under the contract, which feature Dual Fuel engines, offer higher transport efficiency and lower gas emissions than previous LNG carriers. They are excellent in terms of both performance and efficiency.

The 174,000m2 LNG carriers, which are due for delivery in 2018, will be put into the Asia-bound route to transfer US shale gas.

Currently, US shale gas projects such as Sabine Pass, Cameron, Freeport, Cove Point projects have won export approval from the US Federal Energy Regulatory Commission (FERC). It is expected that about 90 carriers will be needed for the transport of LNG. Of these 90, 60 still need to be ordered, which means that there will be more orders of LNG carriers in the immediate term.

In addition to the four projects approved for export, 14 more shale gas projects are awaiting the FERC's approval. LNG development is taking place in many countries, including Australia, Mozambique, and Tanzania.

A spokesperson for Samsung Heavy Industries stated: "It is expected that more than 30 LNG carriers will be ordered annually, as LNG exports are expanding to the US, Australia, and East Africa. As we have the No. 1 market share in the LNG carrier market, we will benefit from these orders."

Including this most recent one, Samsung Heavy Industries has recorded 6.5 billion USD in orders so far this year.


What to read next

Hyundai Heavy Industries’ ship order jumps 500% in January-May
Airlines bid to take Tokyo airport slot from Delta Air Lines
Daewoo Shipbuilding wins $873.74m LNG carrier order