https://www.businesskorea.co.kr/news/articleView.html?idxno=232601

Samsung Heavy Industries has signed a contract to construct three ultra-large ethane carriers for an unidentified Asian shipping company, the company announced on December 26. The deal, valued at 742.2 billion won, approximately  $508 million stipulates that the vessels will be delivered sequentially, with the final delivery set for December 2027.

This agreement represents another significant achievement for the Korean shipbuilder, further solidifying its position in the global shipbuilding industry. The addition of this contract brings Samsung Heavy Industries’ total order intake for 2024 to approximately $7.3 billion (10.6 trillion won), encompassing 36 vessels. This figure accounts for 75% of the company’s annual order target of $9.7 billion.Samsung Heavy Industries has not disclosed further specifics about the agreement, including the identity of the shipowner. However, the company remains optimistic about meeting its full-year objectives, citing strong market demand and ongoing discussions for additional projects.

This latest order underscores Samsung Heavy Industries’ expertise in constructing advanced ethane carriers, a critical component of the energy sector’s logistics chain. The deal reflects the shipbuilder’s commitment to maintaining a competitive edge through innovation and its focus on addressing global demand for specialized, environmentally friendly shipping solutions.

https://www.businesskorea.co.kr/news/articleView.html?idxno=230292

Samsung Heavy Industries (SHI) announced on November 25 the signing of a significant shipbuilding contract with an Asian shipowner to construct four advanced 16,000 TEU (Twenty-foot Equivalent Unit) container ships. The agreement, valued at 1.0985 trillion won, sets a delivery timeline with completion expected by December 2027. This new deal reinforces SHI's robust performance in 2024, having secured orders for a total of 33 vessels worth $6.8 billion to date. These include liquefied natural gas (LNG) carriers, ammonia carriers, and other vessels. The company has now reached 70% of its annual order target of $9.7 billion, marking steady progress in a competitive market.

SHI's diverse portfolio for this year includes orders for 22 LNG carriers, 2 very large ammonia carriers, 1 shuttle tanker, 4 Suezmax tankers, and 4 container ships. This strategic diversification reflects SHI's adaptability and foresight in addressing the evolving needs of the global maritime industry.The latest contract underscores SHI’s reputation for delivering innovative and high-capacity vessels, positioning the company as a leader in advancing modern shipbuilding technologies while catering to the increasing demands of global shipping.

https://theloadstar.com/wan-hai-and-cosco-step-up-box-ship-arms-race-with-more-newbuild-orders/

Taiwanese shipping company Wan Hai Lines has expanded its investment in newbuild containerships by commissioning eight 16,000 TEU methanol dual-fuel vessels from two leading South Korean shipbuilders, Hyundai Samho Heavy Industries and Samsung Heavy Industries. The total investment in this order is estimated at $1.6 billion, with vessel deliveries scheduled for 2027 and 2028.

This order marks a significant step in Wan Hai’s long-term strategy to enhance its international network, as outlined in its recent filing with the Taiwan Stock Exchange. The new vessels will be methanol dual-fuel powered, aligning with industry trends toward lower emissions and supporting Wan Hai’s sustainability goals.

This investment follows the company’s August orders placed with Hyundai Samho and Taiwan’s CSBC, reinforcing its commitment to expand and modernize its fleet. By adding these advanced, eco-friendly vessels, Wan Hai aims to strengthen its competitive position within the global shipping industry, particularly in the context of increasingly stringent environmental regulations.The fleet expansion reflects Wan Hai’s strategic focus on long-term growth and efficiency as it continues to develop its global presence and support sustainable maritime operations.

https://splash247.com/adnoc-lines-up-lng-carrier-newbuilds-at-south-korean-yards/

ADNOC Logistics & Services (ADNOC L&S), the maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced a strategic expansion of its LNG carrier fleet with at least six newbuilds. The company has signed letters of intent with Samsung Heavy Industries and Hanwha Ocean for the construction of three LNG carriers each. The total value of these agreements is approximately $1.5 billion, with options for an additional four newbuilds.

This development was disclosed by the South Korean President's press office as part of a broader trade agreement between South Korea and the United Arab Emirates, signed during a summit on Wednesday. The deal underscores the strengthening economic ties between the two nations and their commitment to advancing the global LNG shipping industry.In addition to these new agreements, ADNOC L&S has six 175,000 cubic meter LNG carriers currently under construction at China’s Jiangnan Shipyard, with deliveries scheduled for 2025 and 2026. This fleet expansion aligns with ADNOC L&S’s strategic objectives to enhance its shipping capabilities and support ADNOC’s growing LNG production and export activities.