Samsung Heavy wins two more LNG carriers

Vessels are going to a North American buyer for about $189m each. They have added to the four LNG carrier newbuildings already won by the South Korea builder this month.

News ID: 80320

Date: 24 December 2018 - 09:37

The pair of LNG carriers are scheduled for delivery in August 2021.

THE LATEST DEAL HAS ALSO PUSHED THE COMPANY’S TOTAL NEW ORDERS YEAR-TO-DATE TO 48 VESSELS, OR $6.1BN.

SAMSUNG Heavy Industries, the South Korean shipbuilding giant, has added another two liquefied natural gas carriers to its newbuilding backlog.

The Seoul-listed builder has signed a contract to construct a pair of LNG carriers, worth Won425.8bn ($377.2m), for a shipowner in North America, according to an exchange filing.

Delivery is scheduled for August 2021.

The ship price this time, about $188.6m apiece, is higher than that of the previous ones contracted earlier this month - one with an unidentified shipowner in the Oceania region at $187m and two with NYK at $180m each.

In December, SHI won six LNG carrier newbuildings, one of which was an option exercised by George Economou-led TMS Cardiff Gas.

The latest deal has also pushed the company’s total new orders year-to-date to 48 vessels, or $6.1bn.

Those include 17 LNG carriers, 13 Containerships, 15 tankers, and 3 special purpose ships.

LNG carriers have been a star performer in newbuilding markets this year as strong freight rates and bullish sentiment in the sector have pushed up orders.

The majority of these new contracts have been placed by Greek owners and won by South Korean builders.