SHI wins order for two LNG carriers

 Samsung Heavy Industries Co., Ltd.(SHI) has signed a contract to build two small-scale LNGCs at a total of about 100 million USD. The LNG carriers are built for KOGAS to transport LNG from Tongyeong, Gyeongsangnam-do, to Jeju Island.

The 7,500㎥ LNG vessels would be equipped with KC-1 cargo containment system designed in Korea. One of the two carriers would be built with LNG bunkering capability. The delivery dates are May and December of 2019.

The company acknowledges the contract to be a significant milestone for developing a leading track record in KC-1 LNG carriers, as well as expanding into small-scale LNGCs and LNG-bunkering vessels.

Korean Cargo containment system is solely developed by Korean technologies by KOGAS with cooperation between the Korean Big 3s.

Previously, SHI had won an order to build the first-ever pair of KC-1 174,000㎥ LNGCs in 2015. With the newly signed contract, SHI’s further solidifies its track record in the LNGC market.

Furthermore, the company opts for entering into the promising small-scale LNGCs and LNG-bunkering markets, considering that increase in LNG demand in China and Southeast Asia is expected to call for demand for near-sea transport utilizing small-scale LNGCs.