Samsung Heavy Industries secures $260 million contract for LNG carrier

Samsung Heavy Industries (SHI) has secured a $260 million contract to build a liquefied natural gas (LNG) carrier for an unnamed Asian shipowner. The vessel is expected to be completed and delivered by September 2026. This contract brings SHI’s total contracts for ship construction to $6.6 billion, representing 69% of its 2023 target of $9.5 billion. The contracts include seven LNG carriers, two oil tankers, 16 container vessels, and a floating LNG gas facility.

In addition to LNG carriers, SHI is also making progress in the development of ammonia-fueled technology. The company has received Approval in Principle from ClassNK for its ammonia fuel supply system, which is designed for use in oil tankers and container ships. SHI has also entered into a cooperative agreement with Swiss marine power company WinGD to integrate WinGD’s X-DF-A dual-fuel ammonia engines into newbuild vessels. Ammonia is gaining traction as a clean and sustainable fuel in the maritime industry due to its zero carbon dioxide emissions and ability to be produced using renewable energy sources.

These developments highlight SHI’s success in securing contracts for ship construction and its commitment to exploring environmentally friendly fuel options for the maritime industry.

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