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LNG carrier built by Samsung Heavy Industries.
Samsung Heavy Industries (CEO Jeong Jin-taek) is rapidly raising the target quantity by showing the sense of pushback from the orders won at the end of the year. While large-scale global project orders such as Qatar and Mozambique are analyzed to have been serious, Samsung Heavy Industries is also focusing on securing related technologies to bolster the competitiveness of green liquefied natural gas (LNG).
According to industry sources, on the 28th, Samsung Heavy Industries won 8 orders from LNG carriers during the last three days from 21-23. The total amount of orders during this period amounts to 1.5 billion dollars (about 1.63 trillion won). This year’s cumulative order return was $ 5.5 billion (about 620 trillion won), hitting 65.5% of the order goal ($ 8.4 billion).
The industry believes the recent orders were due to French energy company Total’s Mozambique LNG project. Along with Samsung Heavy Industries, Korea Offshore & Shipbuilding also secured orders for nine LNG carriers from 21-23, and the total amount of orders for these shipbuilders over three days reached 3.4 trillion won.
Samsung Heavy Industries’ cumulative order throughput through October was just $ 1.1 billion, but the order target fulfillment rate rose sharply due to the flood of orders in November and December. In November, Samsung Heavy Industries launched a ‘jackpot’, which included the supply of ship blocks worth $ 2.5 billion, and received additional orders for two LNG carriers.
Samsung Heavy Industries’ order book also increased from $ 18.6 billion earlier this year to $ 22.2 billion in December. Orders were slow due to order delays due to Corona 19 in the first half, but they managed to scale up work thanks to the ‘order pickup’ in the second half.
LNG carriers account for half of the current order book ($ 10.4 billion). Samsung Heavy Industries has won orders from high-value-added LNG carriers, which are more than three times more expensive than bulk carriers of the same size, in 2018 and 2019, respectively, followed by 19 orders so far this year.
Samsung Heavy Industries is focusing on securing related technologies to further strengthen its competitiveness in the green ship market. Samsung Heavy Industries has developed a “ VR (virtual reality) painting education and training system ” for the application of eco-friendly paints, and is seriously implementing them at the Geoje shipyard.
Painting work is an important process that determines the quality of boats, such as corrosion prevention, but there are not enough training opportunities, so it has been difficult to promote professional workmanship. The Painting VR system is a simulator that allows users to directly experience green paint painting job in a virtual 3D space and assess skills.
Samsung Heavy Industries has been working hard to develop eco-friendly paints, such as solvent-free and water-soluble. In 2018, solvent-free paint was applied to LNG carriers for the first time in the world, and this year, water-soluble paint was applied to solid ships, leading the way in leading green paint technology.
The LNG reliquefaction system developed by Samsung Heavy Industries for low pressure engines (X-DF) obtained ‘X-Reli’ from the US classification system, ABS, for detailed design certification (DDA). Reliquefaction is a technology that liquefies the LNG boiling gas (BOG) generated in the cargo hold of LNG carriers, stores them in the cargo hold, and preserves the cargo volume without loss.
A Samsung Heavy Industries official said: “The market suffered a decline due to the Corona 19 pendemic and low oil prices this year, but market conditions are gradually improving in the second half.” He said: “We will do our best to expand orders by developing new technologies.”
[CEO스코어데일리 / 김보배 기자 / [email protected]]