Monday, November 24, 2014

SAMSUNG HEAVY INDUSTRY TO DEVELOP LNG TANKERS –AS ENERGY DRIVES THE WORLD TO WORK

South Korea's leading shipbuilder Samsung Heavy Industries Co. said Monday it has won a 664 billion won (US$622 million) order to build three liquefied natural gas (LNG) carriers from an Asian shipper.

Under the deal signed with a undisclosed shipper, Samsung Heavy will build three 174,000-cubic-meter level carriers by 2018, which will be equipped with a "dual fuel" engine system that bolsters efficiency.

Once completed, they will be deployed to ship U.S. shale gas to Asian countries. Samsung Heavy has won a combined $6.5 billion in orders this year. Samsung said the demand for LNG carriers is anticipated to rise down the road, as projects in the U.S. are projected to lead to more exports of shale gas and the need for 60 additional carriers in the near future, with more demand to come from Australia, Mozambique and Tanzania.

"Global orders for carriers are set to reach more than 30 units every year following the expansion of LNG exports from the U.S., Australia and Eastern Africa," Samsung said in its release. "As Samsung already tops the global LNG carrier market, we are anticipated to take the lead in future orders as well."

http://www.koreaherald.com/view.php?ud=20141013000976

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