SHI’s Latest Contract Raises Eyebrows

South Korean Samsung Heavy Industries in their Korea Stock Exchange disclosure announced winning of a newbuilding contract for 6 gas carriers worth approximately USD 723.5 million.

The new vessels have been commissioned by an Asian shipowner.

Several news sites reported that gas carriers in question are supposedly LNG carriers, but experts cast a shadow of doubt on this claim, saying that the contract value indicated in the disclosure is too low for six LNG newbuilds, suggesting that the contract has possibly been agreed for six new ethane carriers, which would explain the price of around $120m per vessel.

The ships are scheduled for delivery by January, 2017.

[mappress]
World Maritime News Staff, July 17th, 2014