Samsung Heavy scores order for LNG-powered VLCC quartet

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured an order for the construction of four very large crude carriers (VLCCs).

Illustration; Source: Wikimedia – under public domain; Image by: Towel401

The newbuilds will be powered by liquefied natural gas (LNG), according to Yonhap News Agency.

The contract, signed with an undisclosed shipowner from Oceania, is valued at KRW 458.7 billion (around $415 million), SHI said in a stock exchange filing on 18 February 2021.

The vessels are planned to be delivered by the end of Q2 2023.

With the newest deal, the shipbuilder has reportedly won $1.7 billion worth of orders so far this year.

Last week, SHI also received a huge order from Hong Kong-based boxship owner and operator Seaspan Corporation, encompassing ten 15,000 TEU LNG-powered containerships.

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