Samsung Heavy Industries inks largest ever contract with Evergreen

The worth some KRW3.99 trillion ($3.11bn), is the largest ever for a single shipbuilding contract place with the  shipyard. This broke the previous record of KRW 3.33 trillion for 12 LNG carriers set by Samsung Heavy Industries (SHI).

Samsung Heavy Industries succeeded in expanding its alternative fuel vessels from LNG to methanol through this contract and expects to further strengthen its competitiveness in the eco-friendly ship market in the future, commented the shipyard.

The vessels are scheduled to be delivered by December 2027.

Evergreen is ordering a total of twenty-four 16,000 teu methanol-powered newbuildings. The contract for the other eight newbuildings is being placed with Nihon Shipyard in Japan and combined all 24 newbuildings will cost $5 billion.

Listen to the podcast below on the shipping market outlook, the section relating to the shipbuilding market starts at 00:33:20

With the Evergreen contract, Samsung Heavy Industries has increased its order intake this year to a total of 25 ships, worth $6.3 billion and achieved 66% of its annual target.