Commercial Ship Orders Reach 107% Of Annual Target As Eco-Friendly Container Demand Rises Samsung Heavy Industries wins order for two container ships worth 444.5 billion won

Samsung Heavy Industries disclosed on Aug. 31 that it has won an order for two container ships from an African shipping company for a total of 444.5 billion won ($336.74 million). The newly contracted ships are scheduled to be delivered sequentially by Dec. 2028.

With this order, the accumulated order performance of Samsung Heavy Industries’ commercial ship sector this year was tallied at 36 ships and $6.1 billion. This figure achieved 107% of the initially set commercial ship order target of $5.7 billion.

Looking at the detailed order status by ship type, the company achieved an even performance centered on high value-added ships, including 14 LNG carriers (including one LNG-FSRU), 12 crude oil carriers, 4 gas carriers, 4 container ships, and 2 ethane carriers.

Driven by the strong performance in the commercial ship sector, overall order results are also on the rise. The total accumulated order value for this year, including two FLNG (Floating Liquefied Natural Gas production facility) units in the offshore sector, is currently recording $10.5 billion. This corresponds to 76% of Samsung Heavy Industries’ annual total order target of $13.9 billion.

In the recent shipbuilding market, as the demand for replacement with eco-friendly ships increases, there is a trend of active orders centered on 8,000 to 13,000 TEU-class mid-to-large container ships. Samsung Heavy Industries has actively utilized these changes in the market environment to secure order volumes.

An official from Samsung Heavy Industries stated that as the annual target for the commercial ship sector has already been exceeded, the company will prioritize profitability moving forward.

Source:Business Korea