Samsung Heavy books $209.2 million order for two LNG-fueled VLCCs

Written by Nick Blenkey
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Two LNG-fueled VLCCs ordered at SHI are widely believed to be the pair ordered by AET for charter to Total (Image AET)

In a regulatory filing today, South Korean shipbuilder Samsung Heavy Industries (SHI) disclosed in its regulatory filing that it has won a contract worth a total of $209.2 million to build two LNG-fueled VLCCs for deliveries by April 2022.

Though SHI describes the ships as being contracted by “a Bermudan ship owner,” that owner is likely to be an entity set up by Malaysian-based tanker operator AET to own the two 300,000 dwt LNG-fueled VLCCs it is to charter to French energy giant Total. They are set to join the Total fleet in 2022.

SHI says the ships will be equipped with S-Fugas, an LNG fueling system independently developed by the shipbuilder, and other SHI-developed technologies, including Energy Saving Devices (ESDs) and the SVESSEL smart ship solution.

“We see increasing demand for LNG-fueled VLCCs on top of that for S-max and A-max tankers powered by LNG. SHI aims to take more opportunities to come as we have predominated the market with the advancement of technologies,” said a Samsung Heavy official.

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