SHI Secures Order for Asian FPSO Unit

South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of a floating production, storage and offloading (FPSO) unit.

Illustration. Source: Flickr – under the CC BY 2.0 license; Image by: Kees Torn

The contract worth KRW 1.1 trillion (around USD 970 million) has been signed with an unnamed Asian shipowner.

As informed, the contract amount is equivalent to 21 percent of sales SHI recorded last year.

The FPSO will be constructed at SHI’s Geoje Shipyard and is expected to be delivered by March 2022.

Including the newest contract, the shipbuilder has so far this year secured orders for a total of seven LNG carriers and one FPSO, worth USD 2.3 billion.

SHI said it has achieved 29 percent of the 2019 order target which amounts to USD 7.8 billion.

World Maritime News Staff