Samsung Heavy Industries
Samsung Heavy Industries (SHI) is one of the largest shipbuilding and engineering companies in the world. Founded in 1974 and headquartered in Geoje, South Korea, SHI is a subsidiary of the Samsung Group, a major conglomerate in South Korea known for its extensive range of businesses, including electronics, construction, and financial services.
Key Areas of Operation
Shipbuilding:
- Commercial Vessels: SHI builds a wide range of commercial ships including container ships, oil tankers, bulk carriers, and liquefied natural gas (LNG) carriers. They are renowned for their high-tech and environmentally friendly ships.
- Specialized Vessels: This includes drillships, floating production storage and offloading units (FPSOs), and other offshore platforms that are crucial for oil and gas exploration and production.
Offshore Engineering:
- SHI is known for its expertise in the design and construction of offshore oil rigs, platforms, and other structures critical to the energy sector.
- They are also involved in projects related to renewable energy, including offshore wind farms.
Engineering and Construction:
- Beyond shipbuilding, SHI engages in the construction of plant facilities and infrastructure, providing integrated solutions to complex engineering challenges.
Milestones and Achievements
- Technological Innovation: SHI has been a pioneer in adopting advanced technologies for shipbuilding, including 3D modeling, automation in ship design and construction, and eco-friendly technologies to reduce emissions and improve fuel efficiency.
- Market Leadership: The company has consistently ranked among the top shipbuilders globally in terms of orders received and delivery tonnage.
- Global Presence: While headquartered in South Korea, SHI has expanded its market reach with numerous projects and partnerships across the globe.
Financial Performance
As a large-scale industrial company, SHI's financial performance is closely tied to the global economic environment, particularly trends in international trade and the oil and gas market. The fluctuating demand for new ships and offshore projects can significantly influence its revenues and profitability.
Challenges
- Economic Cycles: The shipbuilding industry is highly cyclical, dependent on fluctuations in the global economy, which can affect demand for new vessels and offshore platforms.
- Competition: SHI faces competition from other leading shipbuilding firms, particularly those in South Korea, China, and Japan.
- Technological Advancements: Continuous innovation is essential to maintain a competitive edge, requiring significant investment in research and development.
Future Outlook
Samsung Heavy Industries continues to focus on technological advancements and sustainable practices to maintain and grow its market position. This includes further investment in eco-friendly ship designs, automation, and digitalization in the manufacturing process, as well as exploration of new markets such as renewable energy.
Overall, Samsung Heavy Industries remains a major player in the global shipbuilding and offshore engineering sectors, with a strong track record of innovation and market adaptation.
Ship and Offshore platform building
- Phone: 82-55-630-5020
- Web: www.shi.samsung.co.kr
- Fax: 82-55-630-4104
Locations
Samsung Heavy Industries News
SHI to Build 10-LNG-fuelled Tankers
South Korean shipbuilder Samsung Heavy Industries (SHI) is to build 10 LNG-powered crude tanker vessels.The order was placed by an unnamed "Oceanian" customer. The…
Samsung Heavy Bags LNG Carrier Order
South Korean shipbuilder Samsung Heavy Industries (SHI) has secured a deal to build a liquefied natural gas (LNG) carrier for an Asian customer.According to Yonhap…
SHI Thrusts on Smart Ship Technology
South Korean shipbuilding giant Samsung Heavy Industries (SHI) has pushed ahead with advancing smart ship technology thanks to joint work with global equipment producers on SVESSEL…
SHI Develops Lithium-Ion Battery System
South Korean shipbuilder Samsung Heavy Industries (SHI) said that it has developed a lithium-ion battery power system for ships.A press release from the shipbuilding giant said that the system…
SHI Bags $125mln Order for 2 Crude Carriers
South Korean shipbuilder Samsung Heavy Industries Co (SHI) said that it has clinched a deal worth 147 billion won (US$124 million) to build two crude carriers.According…
SHI Wins Order for 2 LNG Carriers
South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of two liquefied natural gas (LNG) carriers.The shipbuilder said…
SHI Wins $190mln Order for LNG Carrier
South Korean shipbuilder Samsung Heavy Industries (SHI) revealed today (May 3, 2019) that it receives an order for a LNG carrier worth about KRW 222bn (US$190 million).SHI…
SHI Built LNG-Fuelled Ship with In-house Tech
South Korea shipbuilding major Samsung Heavy Industries (SHI) announced that it has successfully built its first LNG-fuelled vessels with its own technology, proving…
Samsung Wins $963mln FPSO Contract
South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of a floating production, storage and offloading (FPSO) unit on…
SHI Receives New LNGC Order
South Korea’s Samsung Heavy Industries (SHI) has signed a deal for the construction of one more liquefied natural gas (LNG) carrier.The shipbuilder said in a stock…
Teekay, Samsung Opt for Hydroniq Coolers
Norwegian supplier Hydroniq Coolers has won contracts from Samsung Heavy Industries Co. Ltd. (SHI) to deliver the cooling system for the engines of the six LNG-fuelled…
SHI Wins Order for LNG Carrier Pair from Celsius Tankers
South Korean shipbuilding giant Samsung Heavy Industries(SHI) has won a new order to build two liquefied natural gas (LNG) carriers from Copenhagen-based Celsius…
Shipbuilding: SHI Eyes Fat Order Book in 2019
South Korean shipbuilder Samsung Heavy Industries (SHI) expects to increase orders by almost 24 percent in 2019 compared to last year.According to Yonhap, SHI is…
South Korean Shipbuilding No.1 Again
South Korea’s shipbuilding industry reclaimed the title of world’s biggest shipbuilder (in terms of orders volume) in 2018 for the first time in six years, since…
Samsung Heavy Bags USD 188 mln LNG Newbuild Order
South Korean shipbuilder Samsung Heavy Industries (SHI) has clinched a deal worth 209 billion won (USD 188 million) to build a liquefied natural gas (LNG) carrier.The…
Samsung Heavy Bags Two More New Orders for LNG Carriers
South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order to build two new liquefied natural gas (LNG) carriers worth a total of about 426 billion…
SHI Bags New Order for an LNGC
South Korea's major shipbuilder Samsung Heavy Industries (SHI) announced yesterday (Thursday) that it has clinched a deal to build a liquefied natural gas (LNG)…
SHI Delivers Johan Sverdrup Offshore Platform On Schedule
South Korean shipbuilder Samsung Heavy Industries (SHI) has successfully completed the processing platform (P1) for Johan Sverdrup Field development and delivered…
Samsung Heavy Strikes New LNG Carrier Order
South Korean shipbuilding giant Samsung Heavy Industries (SHI) said Thursday that it has clinched a new deal to build a liquefied natural gas (LNG) carrier.According…
SHI Bags $358m Order for 2 LNGC
South Korean shipyard Samsung Heavy Industries (SHI) revealed that it has clinched a KRW 400bn (USD358 million) deal to build two LNG carriers.According to a press release from the Korean shipbuilder…