Samsung Heavy Industries signs biggest deal ever with Evergreen

Samsung Heavy Industries has secured a groundbreaking shipbuilding contract worth KRW 3.99 trillion (US$3.11 billion), the largest ever for a single contract with the yard. This deal surpasses Samsung Heavy Industries’ previous record of KRW 3.33 trillion for 12 LNG tankers. The shipyard expects to enhance its competitiveness in the green ship market by upgrading its alternative fuel ships from LNG to methanol.

Under the terms of the agreement, Samsung Heavy Industries will deliver twenty-four newbuilds fueled with methanol, each with a capacity of 16,000 TEU, by December 2027. Evergreen, the client, will also award a contract for the remaining eight ships to Nihon Shipyard in Japan. In total, the construction of all 24 newbuilds will cost approximately US$5 billion.

This contract has significantly boosted Samsung Heavy Industries’ order intake over the course of this year. With the addition of the Evergreen contract, the company has secured a total of 25 ships valued at US$6.3 billion, achieving 66% of its annual target.

This impressive deal reflects Samsung Heavy Industries’ commitment to advancing in the green ship market and increasing its market share. By transitioning from LNG to methanol, the shipyard aims to align with environmentally friendly practices while meeting the demand for alternative fuel ships. With the successful completion of this contract, Samsung Heavy Industries strengthens its position as a leading player in the shipbuilding industry and anticipates continued success in the future.

Source .