Samsung Heavy scores order for LNG-powered VLCC duo

South Korean shipbuilding giant Samsung Heavy Industries has received an order to build two liquefied natural gas-powered very large crude carriers.

The order worth 253.6 billion Korean won ($209.2 million) was placed by a Bermuda-based ship owner, Samsung said on Tuesday.

Samsung did not reveal the name of the company behind the order.

The two LNG-powered vessels are scheduled for delivery by April 30, 2022, it said.

Equipped with S-Fugas, an LNG fueling system developed by Samsung, these vessels will comply with the new International Maritime Organization’s low sulphur regulation which took effect early this year, the shipbuilder said.

The LNG system helps reduce the volume of harmful emissions like sulfur oxides, nitrogen oxides and carbon dioxide.

Compared to diesel fuel, the LNG system cuts emissions of SOx by 99 per cent, NOx by 85 percent and carbon dioxide by 25 percent, Samsung says.

The Korean shipbuilder has since 2012 won a series of orders for LNG-powered ships.

With the latest order, Samsung Heavy now claims 54 percent of the global LNG-powered oil tanker market based on the number of ships.