Samsung Heavy Bags LNG Carrier Order

Maritime Activity Reports, Inc.

August 16, 2019

Pic: Samsung Heavy Industries

Pic: Samsung Heavy Industries

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured a deal to build a liquefied natural gas (LNG) carrier for an Asian customer.

According to Yonhap, SHI the deal is worth 225.5 billion won (US$185 million).

The new vessel is scheduled for delivery to the undisclosed owner in late October 2021.

The report said that with the deal, Samsung Heavy has secured deals valued at $3.6 billion in total so far this year to build 19 vessels, with 10 of them being LNG carriers. For the year, the shipyard aims to bag $7.8 billion worth of orders.

Samsung Heavy had net losses of 309.4 billion won in the second quarter, more than double a loss of 142.7 billion a year earlier, due to one-off costs related to covering a damage suit.

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