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Samsung Heavy Industries Lands Orders Exceeding KRW3tr In One Week

Samsung Heavy Industries (SHI) booked orders exceeding 3 trillion won in a week.

The company announced on Oct. 25 that it has won orders for four LNG carriers worth 971.3 billion won from a shipping company in the Bermuda region. The price per LNG carrier is US$206 million, the highest since 2015.

On Oct. 18, the company landed an order for seven shuttle tankers worth 2 trillion won.

SHI won a total of US$11.2 billion worth of orders, including the latest contract, in 2021, exceeding its annual target of US$9.1 billion. Its order-taking performance is comparable to that of 2007 when the shipbuilding industry was in a super cycle. “Of the total orders received in 2021, eco-friendly ships that can respond to the International Maritime Organization’s regulations on sulfur oxide and carbon dioxide emissions accounted for 68 percent,” said a company official “We expect demand for eco-friendly ships to increase further in the future.”

Korea Shipbuilding & Offshore Engineering (KSOE), the holding company of Hyundai Heavy Industries Group in the shipbuilding sector, also signed a contract with a Middle Eastern shipping company to build four 114,000-ton petrochemical carriers (PCs). The total contract amount is 382.6 billion won. The shipbuilder has thus far won orders for a total of 61 LNG-powered ships, the largest number in the world. It accounted for 40 PCs out of the 67 medium-sized and large PCs over 40,000 tons ordered worldwide in 2021.
Source: Business Korea

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