SHI Receives Order for 16 Methanol-Powered Ships

Samsung Heavy Industries (SHI) has signed a shipbuilding contract for 16 16,000 TEU methanol-powered container ships from a shipowner in Asia.

Evergreen Shipping’s subsidiary Evergreen Marine (Asia) has placed an order with SHI for 16 vessels and a separate order for eight 16,000 TEU with Japan’s Nihon Shipyard.

The order amount was KRW 3,959.3 billion ($3.1 billion), the largest ever for a single ship contract, says SHI. It has broken the previous record (12 LNG carriers, KRW 3.331 trillion) set by SHI in June of last year. These vessels are scheduled to be delivered sequentially by December 2027.

With this contract, SHI increased its order intake this year to a total of 25 ships, worth $6.3 billion, and achieved two-thirds of its annual order target of $9.5 billion at once. The yard’s order backlog has risen to $33.6 billion, the highest in five years.

An official from SHI said, "Based on a solid order backlog, we will continue to receive profitability-oriented selective orders," and added: "If we win orders for LNG carriers and FLNG projects, which are expected to be ordered in the second half, it is expected that we will be able to achieve our order target for three consecutive years."