The performance brings first half profit to KRW515bn, up from KRW445bn in the same period last year.
According to a filing on the Korean Stock Exchange, sales in the second quarter also rose 13% year on year to KRW3.7tn, bringing the cumulative sales total for 2013 to KRW7.6tn.
SHI quotes new orders for 2013 of 30 units totalling a $10.3bn contract vlue as of 31 Jul 2013; of the new order value, 40% represents drill rigs, 32% production facilities and 19% LNG carriers, with box ships and tankers making up the remainder. SHI's current backlog of $38.8bn is split 30% shipbuilding and 70% offshore.
LNG plays a strong part in the group's portfolio and market outlook, with forecasted demand hikes in both LNG carriers and FLNG facilities. LNG carrier demand and fleet size are estimated to grow in unison until 2020 where the fleet will have reached 681 units, up from 372 units in 2012.
For FLNG the company forecasts a 40% compound annual growth in global capital expenditure over the next three years, reaching $10bn in 2016. In October 2012 construction started at SHI on Prelude, the world's first FLNG project, which is being built for Shell.
Strategically, Samsung will position itself as a builder of high end and specialised eco-friendly vessels, while continuing to improve its offshore engineering capabilities and diversify into areas such as subsea engineering. The group's vision is to be the global leader in ocean and power come 2020, with 50% of their revenue from offshore, 30% from heavy electrical machinery such as offshore wind machinery, and the remaining 20% from shipbuilding.
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