Samsung Heavy Industries in large shipbuilding deals

SHI (Samsung Heavy Industries) announced on June 24 that it received orders for a total of 2 large passenger ships worth USD 180 million from Norfolkline, a Dutch passenger ferry company.
This is the first order for a large passenger ship for a Korean shipbuilder since 2000.
In 1999, SHI received the first Korean orders for a total of 3 large passenger ships, all 28,000 GT-class, from Grecian Minoan Line. The 3 vessels were completed last year. SHI said that the new orders again prove SHI's superior and unique ship design, all of which is homegrown.
These Passenger Ro-Ro Ferrys orders received by SHI are for 35,000 GT-class vessels. Each of them has recreational and resting areas including a large restaurant, a lounge, a shopping mall, theater, children's playroom and a game room. These ferries will serve a maximum speed of 25 knots and can carry 850 passengers and 700 passenger cars. They will be put in the Strait of Dover.
High-value added vessels, like these passenger ships, have equal value to 10,000 passenger cars, or about 100 billion won. Compared to other vessels, they are worth more than a 160,000 GT-class VLCC (about USD 70 million).
SHI plans to push into the cruise ship market. A source at SHI said, " SHI could win the bid, defeating European makers of passenger ferries. We will continue receiving orders such as for LNG ships and passenger ferries. The recent full-scaled step into the passenger ferry market constitutes a springboard for Samsung to jump up to become the top shipbuilder focusing on the building of high-value added ships."