Samsung News

21 May 2019

Teekay Offshore Renews and Expands VSAT

Photo courtesy of Marlink

Teekay Offshore, one of the largest marine energy transportation, storage & production companies, has renewed and expanded its agreements with maritime connectivity provider Marlink to continue utilizing high quality global VSAT services for a further four years. The contract extension ensures reliable global broadband connectivity for data sharing and smart vessel operations, improved facilities for crew welfare and a flexible platform to generate efficiencies from the maritime…

21 May 2019

Samsung Heavy Orders Pumps from SVANEHØJ

Photo courtesy of Svanehøj Group

SVANEHØJ, which is located in Aalborg, Denmark, has secured an order from South Korean shipbuilder Samsung Heavy Industries for a total of 42 pumps for three new Very Large Ethane Carriers (VLEC). The ships have been ordered by the Chinese company Zhejiang Satellite Petrochemical and will be used to carry liquid ethane from Texas, USA, to the company’s petrochemical terminal in Lianyungang, China.The order includes 24 offloading pumps, 12 spray pumps and six fuel pumps, all of…

17 May 2019

EnscoRowan Wins Arbitration Against SHI

File photo: Ensco Rowan

Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming interest on this amount and costs incurred in connection with the matter.In April 2016, EnscoRowan (then Ensco) initiated arbitration proceedings in London against SHI for the losses incurred in connection with a drilling services agreement for ENSCO DS-5 that was voided by customer Petrobras.In January 2018…

13 May 2019

"Big Three" Korean Yards Vie for Qatari LNG Ships

Pic: Qatargas

The state-run Qatar Petroleum (QP)  has revealed plans to order 60 new LNG carriers preferably from South Korean shipyards. Qatar's energy minister, Saad Sherida Al-Kaabi, who is also CEO of Qatar Petroleum, said the company plans to order 60 new LNG carriers.QP has sent invitations to tender reserve shipbuilding capacity for LNG carriers to major shipbuilders across the world, including HHI, DSME and SHI.Most LNG carriers owned by Qatar were built by Korea’s top three shipbuilders…

07 May 2019

Teekay Gets Norway's 'Green' Funding for Tankers

Pic: Teekay

The marine energy transportation company Teekay Offshore has secured long-term financing from the Norwegian Government for four new shuttle tankers being built at Samsung Heavy Industries (SHI) in South Korea.The shuttle tankers are all equipped with a new innovative technology developed by the maritime supplier Wärtsilä in cooperation with Teekay, resulting in zero volatile organic compounds (VOC) emissions from the tankers.On behalf of the Norwegian Government, Export Credit Norway and GIEK have provided loan and guarantee of USD 165.5 million.

03 May 2019

SHI Wins $190mln Order for LNG Carrier

Image: Samsung Heavy Industries

South Korean shipbuilder Samsung Heavy Industries (SHI) revealed today (May 3, 2019) that it receives an order for a LNG carrier worth about  KRW 222bn (US$190 million).SHI will deliver the vessel by March 2022, the company said in a stock exchange announcement.SHI's new order total for 2019 now stands at 8 LNGC, 1 FPSO and 2.6 billion USD. For the year, the shipyard aims to bag $7.8 billion worth of deals.According to Yonhap, Samsung has clinched deals to build eight out of 16 LNG carrier orders placed around the globe.Samsung Heavy secured $6 billion worth of new orders last year…

30 Apr 2019

SHI Built LNG-Fuelled Ship with In-house Tech

Image: Samsung Heavy Industries

South Korea shipbuilding major Samsung Heavy Industries (SHI) announced that it has successfully built its first LNG-fuelled vessels with its own technology, proving itself to the eco-friendly shipping industry for its construction competencies and technological prowess.SHI announced on April 29, 2019 that the two LNG-fuelled 113,000 dwt oil tankers delivered to an Asian shipowner early this year just completed the first bunkering at the port of Rotterdam in Netherlands and now begin its operation as ecofriendly vessels.

24 Apr 2019

MOL, Reliance to Co-Own World’s 6 Largest Ethane Carrier

Very Large Ethane Carrier the Ethane Crystal. Pic: Mitsui O.S.K. Lines

The international shipping company based in Tokyo Mitsui O.S.K. Lines Ltd (MOL) and Reliance Ethane Holding (REHPL) a 100% subsidiary of Reliance Industries Ltd(RIL) and based in Singapore agreed to co-owning of six very large ethane carriers (VLECs) which are currently fully owned by REHPL.VLEC is designed for transportation of liquified ethane which has over 80,000m3 of tank capacity. The vessels which transport liquified ethane at - 92 degrees have GTT Mark III membrane system…

23 Apr 2019

Samsung Wins $963mln FPSO Contract

Geoje Shipyard. Photo: Samsung Heavy Industries

South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of a floating production, storage and offloading (FPSO) unit on the condition that the client receives approval from its partner and government.The contract worth KRW 1.1 trillion (US$963 million) has been signed with an unnamed Asian shipowner, said a report in Yonhap. The FPSO will be constructed at its main shipyard in Geoje, some 330 kilometers south of Seoul, the company said in a regulatory filing.Although Samsung Heavy didn't announce the name of the Asian customer…

04 Apr 2019

Wärtsilä, Samsung Heavy Industries Partner

The Joint Development Project was signed by Jin-Taek Jung; Executive Vice President, Engineering & Procurement Operations, SHI and Timo Koponen; Vice President, Processing Solutions, Wärtsilä Marine. (Photo: Wärtsilä)

Finland based technology group Wärtsilä and South Korean shipbuilder Samsung Heavy Industries (SHI) will set out to develop more efficient solutions for liquefied natural gas (LNG) carriers and shuttle tanker vessels, under a new joint development project (JDP) agreement signed Wednesday at the LNG19 exhibition in Shanghai.According to Wärtsilä, who issued a press release announcing the agreement on Thursday, the JDP will build on shared knowledge and experience between the two companies. Overall cost optimization, including both CAPEX and OPEX, is among the project aims, it said.

29 Mar 2019

GasLog in LNG Charter Deal with JERA

Pic: GasLog Ltd

Monaco-based liquefied natural gas (LNG) shipper GasLog has agreed a 12-year charter contract with world’s largest LNG buyer, Japan’s JERA.The LNG vessel owner said in a press release that the charter party agreement was signed  with LNG Marine Transport Limited (LMT), the principal LNG shipping entity of JERA, for its existing uncommitted newbuild vessel, HN 2274. GasLog is scheduled to take delivery of the vessel, a 180,000 cubic meter Mark III Flex Plus design with low pressure two stroke propulsion…

28 Mar 2019

DNV GL Okays INTELLIMAN Ship Software

Vidar Dolonen, Regional Manager, DNV GL Korea & Japan (left), and Hyun Jeo Kim, Head of Ship and Offshore Performance Research Center, SHI. Photo: DNV GL

DNV GL announced that Samsung Heavy Industries (SHI) INTELLIMAN Ship software complies with the EU-MRV and IMO-DCS regulations.The classification society said in a statement that it issued a factual statement confirming compliance in a ceremony at the SHI R&D Center in Daejeon, South Korea.SHI has been developing smart ship technology since 2016 and it has been applied to certain ships including LNG carriers and large container ships. The INTELLIMAN Ship is an integrated smart…

27 Mar 2019

Petrobras Sues Samsung Heavy Industries

© Lichtwolke / Adobe Stock

Samsung Heavy Industries said on Wednesday that Petrobras America filed a lawsuit against the South Korean shipbuilder with a U.S. court, claiming 283 billion won ($249.32 million) in damages.Petrobras America claimed that it paid excessive charter fees for a drill ship built by Samsung Heavy, Samsung said in a regulatory filing. Samsung delivered the vessel to U.S.

25 Mar 2019

SHI Receives New LNGC Order

Pic: Samsung Heavy Industries

South Korea’s Samsung Heavy Industries (SHI) has signed a deal for the construction of one more liquefied natural gas (LNG) carrier.The shipbuilder said in a stock exchange annoucement that the new order has a value of 215 billion-won (US$190 million).The ship is scheduled to be delivered by March 2022, it said. According to the annoucement the contract was made with an Asian shipper."SHI's new order total for 2019 now stands at 7 LNGC and 1.3 billion USD," the statement said.SHI announced earlier that  its 2019 orderbook tagret was set at USD 7.8 billion…

22 Mar 2019

GasLog Warsaw Secures Charter with Endesa

Image: GasLog Ltd

Monaco-based liquefied natural gas (LNG) shipper GasLog Ltd signed a new long-term charter deal with a unit of the Spanish utility company Endesa for its newbuild vessel, the GasLog Warsaw.The International owner and operator of LNG carriers said that it is scheduled to take delivery of the 180,000 cubic meter Mark III Flex Plus vessel with low pressure two stroke propulsion (LP-2S) from Samsung Heavy Industries in July 2019. The eight year fixed-term charter to Endesa will commence in May 2021.Paul Wogan…

05 Mar 2019

SHI Cuts Steel on 4th Teekay Shuttle Tanker

(Photo: Teekay)

Furst steel was cut on Monday at Samsung Heavy Industries (SHI) in South Korea for the fourth and final E-Shuttle tanker in a series for Teekay Offshore. The final vessel will be named Current Spirit.The 130,000 dwt vessels will operate on both liquefied natural gas (LNG) as the primary fuel, and a mixture of LNG and recovered volatile organic compounds (VOCs) as secondary fuel. According to Teekay, the new and innovative shuttle tanker design will reduce emissions and fuel consumption.The power distribution system is part of Wärtsilä’s Low Loss Hybrid (LLH) system…

12 Feb 2019

SHI Turned Down Offer to Buy DSME

© Roland Bentin / Adobe Stock

Samsung Heavy Industries turned down an offer to take over rival shipbuilder Daewoo Shipbuilding & Marine Engineering, the top shareholder of Daewoo said on Tuesday.State-funded Korea Development Bank (KDB), which holds a 56 percent stake in Daewoo, said it aims to sign a deal to sell the shipbuilder to sole bidder Hyundai Heavy Industries once its board approves it in early March.Hyundai Heavy, the world's biggest shipbuilding group, announced a share swap deal worth 2.1 trillion…

18 Feb 2019

GTT Wins SHI LNG Tank Design Deal

GTT won an order from Samsung Heavy Industries (SHI) for the tank design of a new 174,000 cu. m. LNG carrier (LNGC), on behalf of the Danish ship-owner Navigare.The tanks of this unit will be fitted with the Mark III Flex membrane containment system. The vessel's delivery is scheduled during the first half of 2021.

01 Mar 2019

Teekay, Samsung Opt for Hydroniq Coolers

Image: Hydroniq Coolers

Norwegian supplier Hydroniq Coolers has won contracts from Samsung Heavy Industries Co. Ltd. (SHI) to deliver the cooling system for the engines of the six LNG-fuelled shuttle tankers the shipbuilder is constructing for Teekay Offshore.As per the contracts, Hydroniq Coolers – formerly named Sperre Coolers – will deliver its Hydroniq Rack seawater cooling solution that is integrated in the hull below the main engine room of the vessels. Marine cooling systems are utilised to reduce…

31 Jan 2019

World's Largest Shipbuilders in $2 Bln Mega-merger

(Photo: Hyundai Heavy Industries)

Resulting entity would control about 20 pct of global market; Daewoo shares rally 22 pct; Hyundai Heavy shares fall.Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.The move comes as the worldwide shipbuilding sector recovers from a global economic downturn that led to massive losses…

06 Feb 2019

GTT Wins SHI's LNG Tank Design Order

Image: GTT

French LNG containment specialist GTT (Gaztransport & Technigaz) has announced that it has received an order from Samsung Heavy Industries (SHI) concerning the tank design of a new 174 000 m3 liquefied natural gas (LNG) carrier on behalf of a European shipowner.The Paris-based engineering company said that the delivery of the ship is planned during the first half of 2021.GTT’s membrane containment system Mark III Flex has been selected for the design of the tanks. The name of the ship-owner remains confidential at this stage.Philippe Berterottière…

12 Feb 2019

FLNG Market Grows a CAGR of +93%

FLNG: Shell Global

Global floating liquefied natural gas (FLNG) market is growing at a CAGR of +93% during forecast period 2019-2026 as the demand for natural gas has been rising as it is a preferred fuel in power generation in various industries.According to a report from Research N Reports, the demand comes from mainly for the regions such as North America, Europe, China, Japan, Southeast Asia and India.Natural gas is cleaner, safer, and more cost-effective than other fuels. It has the potential to significantly reduce greenhouse gas (GHG) emissions…

20 Feb 2019

DSME Workers to Strike Against HHI Takeover

Image: Hyundai Heavy Industries

Workers at South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) voted on February 19 to strike to oppose Hyundai Heavy Industries (HHI)’ proposed takeover.According to labour union, the approval for the proposed strike heralds a bumpy road for a mega deal between HHI and the state-run Korea Development Bank (KDB).The decision to go on strike was supported by a majority of DSME workers in a meeting on February 19, Yonhap reported citing the workers’ 5,600-member union.

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