Samsung Heavy Industries Wins Order for Two Ultra-Large Ethane Carriers Worth 466.1 Billion KRW

Achieving 19% of Annual Target
Expanding Focus to "High Value-Added Vessels"

Samsung Heavy Industries announced on the 18th that it has signed a contract worth 466.1 billion KRW with an Asian shipowner for two Very Large Ethane Carriers (VLECs). The company explained, "The vessels are scheduled to be delivered sequentially to the shipowner by February 2028."

Ultra-large Ethane Carrier (VLEC) built by Samsung Heavy Industries. Photo by Samsung Heavy Industries

Ethane carriers are high value-added vessels that transport ethane extracted from natural gas such as shale gas in a liquefied state at minus 89 degrees Celsius (℃).

In July 2014, Samsung Heavy Industries became the first in the world to receive an order for six 88,000㎥ class Very Large Ethane Carriers from Reliance.

Meanwhile, Samsung Heavy Industries has secured orders for 12 vessels worth approximately 1.9 billion USD this year, including one liquefied natural gas (LNG) carrier, nine shuttle tankers, and two ethane carriers, achieving 19% of its annual target of 9.8 billion USD. In particular, with more than three years of sufficient backlog secured, the company is expanding its order portfolio focusing on high value-added vessels such as shuttle tankers and ethane carriers in addition to LNG carriers.

A Samsung Heavy Industries official stated, "There is a growing trend in orders for gas carriers, which are eco-friendly energy vessels," adding, "We will actively respond to changes in the market environment based on our outstanding technological competitiveness."