SHI receives three LNG vessels from Europe

Samsung Heavy Industry announced on June 25 that it received three LNG vessel orders totaling 510 million dollars from Europe.

These three high value added LNG (Liquefied Natural Gas) vessel orders came from Exmars in Belgium for one, and two for AP Moller in Denmark. All of the vessels are scheduled to be delivered to their owners by 2004.

Samsung heavy Industries will employ a new building technique that has been shown to offer higher operating efficiency, be 13 percent lighter in weight and 10 percent lighter in dead weight tons compared to Membrane-type ships-types-.

SHI official said, "The backordered and ongoing work we have right now amounts to 5.5 billion dollars, the highest level ever. We are expecting LNG orders to increase."

SHI has received 1.5 billion dollars worth of orders for 13 vessels, including 6 LNG vessels, 4 of their largest container vessels, one VLCC (Very Large Crude Oil Carrier), and two Afra-max tankers.