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Samsung Heavy wins $749 mn orders for 8 container ships

2018.02.09 13:51:57 | 2018.02.09 15:32:43
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South Korea’s Samsung Heavy Industries Co. won an order worth 820 billion won ($749.5 million) to build eight 12,000 twenty-foot equivalent unit (TEU) container carriers from an Asian shipping company, extending this year’s order book to over 1 trillion won.

Samsung Heavy will deliver 334-meter long and 48.4-meter wide neo-Panamax vessels by May 2021.

Shares of Samsung Heavy closed Friday up 1.5 percent at 8,820 won.

Neo-Panamax refers to vessels capable of passing through the expanded Panama Canal that opened in June 2016. Before expansion, ships of 5,000 TEU vessels in wide of up to 32 meters were able to pass the canal.

The container carriers will be installed with energy saving equipment including a ballast water treatment system, propeller developed by Samsung Heavy and rudder bulb to comply with the stricter environmental regulations. With the expansion of Panama Canal, global shippers are expected to increase travels between Asia and North America.

Samsung Heavy has already won orders worth more than 1 trillion won so far this year including this year’s first deal worth 210 billion won to construct a liquefied natural gas (LNG) carrier. An official from the company said that it expects to secure more orders not only for carriers but also for offshore plants as its long-time experience and risk management ability are widely recognized across the world.

By Woo Je-yoon and Choi Mira

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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