Samsung shipyard wins $209 mln order for two VLCCs fueled by natural gas

By Lim Chang-won Posted : April 14, 2020, 10:35 Updated : April 14, 2020, 10:35

[Courtesy of Samsung Heavy Industries]


SEOUL -- Samsung Heavy Industries, one of South Korea's three largest shipbuilders, has won an order worth 253.6 billion won ($209.1 million) from a client in the Bermuda region to build two very large crude carriers fueled by liquefied natural gas (LNG). The ships will be installed with S-Fugas, an LNG fuel supply system for eco-friendly ships.

Samsung Heavy said in a regulatory filing on Tuesday that it would deliver two LNG-fueled VLCCs by April 2022. The shipbuilder has secured differentiated quality competitiveness in the LNG fuel propulsion system to win a series of orders for LNG-fueled ships.

South Korean shipbuilders have stepped up efforts to secure a competitive edge in LNG-powered vessels. Compared to conventional fuels, LNG is a proven commercial solution to meet ever-tightening emissions requirements.

With rising fuel prices and increasing pressure to make ships greener, shipping companies are now implementing promising technologies that can reduce the levels of toxic sulfur oxides (SOx) and save fuel at the same time. Conventional heavy fuel oil contains 3.5 percent sulfur, meaning ship owners must either buy expensive low sulfur fuel or install an exhaust gas cleaning system.
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