South Korea’s Samsung Heavy Industries is expected to receive an order for two 174,000 cbm liquefied natural gas (LNG) carriers.
According to Korean media news on the 10th, Samsung Heavy Industries has signed a Letter of Intent (LoI) for the construction of two 174,000 cbm LNG carriers with MISC, an international shipping company of Malaysia’s Petronas, with a total order value of about KRW 719 billion ( about $519 million). The new shipbuildings will serve Petronas’ LNG development projects after delivery.
Some industry analysts have also said that MISC’s order may be used for its fleet renewal program. MISC is currently strengthening its competitiveness in its medium and long term operations, by planning to renew its fleet and sell its older vessels. Earlier this year, MISC sold the 65,000 dwt PORTOVENE (built 1997) and LERICI (built 1998) to Turkish owner Karpowership for $9 million each.
MISC has a long-standing relationship with Samsung Heavy Industries. In 2019, two 174,000 cbm LNG carriers named “Seri Damai” and “Seri Daya” were signed for delivery in 2023. The LNG carriers have been chartered for 15 years with SeaRiver Maritime, a wholly owned shipping subsidiary of US energy giant ExxonMobil.
In related news, Samsung Heavy Industries announced on July 1 that it had received an order from ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics subsidiary of UAE energy giant Abu Dhabi National Oil Company (ADNOC), for 4+1 174,000 cbm LNG carriers, with a unit cost of approximately $257 million, which are expected to be delivered in August 2028 for sequential delivery.
The new LNG carriers will be equipped with GTT’s Mark III Flex+ Membrane Containment System to reduce gas evaporation rates; feature a nitrogen oxide reduction system (SCR) and a ballast water treatment system (BWTS) to comply with environmental regulations; fitted with SVESSEL, a smart ship solution developed by Samsung Heavy Industries, which reduces fuel consumption by automatically planning the optimal route, enabling the vessel to operate economically and safely.
