SHI receives $330 million worth of super-container ships

Samsung Heavy Industries (SHI) has enjoyed wild success in receiving orders for high value-added vessels such as super-sized vessels and LNG (Liquefied Natural Gas) vessels.

SHI revealed that it accepted orders for 170 million dollars worth of LNG vessel, with a total carrying capacity of 130 thousand cubic tons, for British Petroleum Amoco based out of the United Kingdom, and orders for two 7,400 TEU class container vessels worth $160 million, from OOCL based out of Hong Kong.

Moreover, these two super-sized container vessels followed previous orders for two container vessels in the first quarter of this year, totaling 4 container vessels worth 320 million dollars from OOCL this year.

An official at SHI said that it is under negotiations with China Shipping Group (CSG) regarding the final price for a 9,000 TEU vessel, the largest container vessel in the world, after completing a Letter of Intent (LOI) for five 9,000 TEU vessels in March. These orders establish SHI as the leader in international super-size container vessel. SHI intends to complete designs for 14,000 TEU Ultra Large Container Ships (ULCS) by the end of this year, he added.

SHI has posted 830 million dollars worth of orders for 9 vessels, including 2 LNG vessels, 4 super sized container vessels, 1 Very Large Crude oil Carrier (VLCC) and 2 Afra-max tankers. It also has work until early 2004, with 5.3 billion dollars or 6.58 million GT left over as of the end of April.