Samsung Heavy Industries Lands Order for 2 LNG-Powered VLCCs

Samsung Heavy Industries Lands Order for 2 LNG-Powered VLCCs

Samsung Heavy Industries announced on April 14 that it has received an order for two LNG-fueled very large crude carriers (VLCCs) from a shipping company in Bermuda for 253.6 billion won. The ships will be delivered until April 2022.

The two LNG-fueled VLCCs will be loaded with S-Fugas, an LNG fuel supply system developed by Samsung Heavy Industries. The advanced system can prune sulfur oxides by 99 percent, nitrogen oxides by 85 percent, and carbon dioxide by 25 percent in exhaust gas compared to when diesel oil is used. It allows ship owners to effectively respond to the International Maritime Organization (IMO)’s 2020 environmental regulations that came into force beginning 2020.

In addition, the shipbuilder’s eco-friendly smart ship technologies will be used in building the two ships. The technologies include various fuel-saving devices that boost ships’ fuel efficiency by controlling the flows of sea water during operation, and the smart ship solution SVESSEL which automatically draws up optimal operation plans to reduce fuel consumption.

To date, Samsung Heavy Industries has won orders for 22 LNG-fueled crude oil carriers (54 percent share of the global market) and remains the world leader in this field.

Meanwhile, Samsung Heavy Industries’ order target for 2020 is US$8.4 billion. Including the contract, the shipbuilder has won orders for five vessels — two crude carriers and three shuttle tankers — for US$500 million so far this year.

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