Samsung Heavy Industries (SHI) has won a $100m order to build two new liquefied natural gas carriers (LNGCs) for Korea Gas (KOGAS).
The 7,500m³ vessels are set to feature KC-1 cargo containment systems, which have been developed by KOGAS in collaboration with major Korean shipbuilders, while one of them will also include LNG-bunkering capabilities.
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The new small-scale carriers will be deployed to transport LNG from South Korea’s Tongyeong, Gyeongsangnam-do to Jeju Island, and are scheduled to be delivered by May 2019 and December 2019 respectively.
SHI noted that this latest order will facilitate the company's entry into the small-scale LNGCs and LNG-bunkering markets.
The company further stated that recent increase in LNG demand in China and Southeast Asia is expected to boost demand for near-sea transport via small-scale LNGCs.
Clarksons Research estimates that only two small-scale LNGCs under 40,000m³ secured annual contracts between 2006 and 2016, but the number of orders is expected to increase to 70 vessels over the next decade.
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By GlobalDataUpcoming regulations intended to limit vessels' sulphur oxides (SOx) emission are also expected to increase demand for LNG-fuelled vessels, eventually paving the way for new LNG bunkering vessels.
SHI received a total of $2.3bn worth orders to build a variety of vessels since the start of 2017, including eight tankers, two LNGCs, one LNG-FSRU, and one floating production unit (FPU).
The company previously announced that it had completed a 20,150 twenty-foot equivalent unit (TEU) containership for Japan’s Mitsui OSK Lines (MOL) in March.
The vessel is currently the largest ship in the world, with a length of 400m, a breadth of 58.8m and a draft of 32.8m.
