Samsung Heavy Industries disclosed in its regulatory filing that it had clinched a deal worth a total of USD 209.2 million (KRW 253.6 billion) with a Bermudan ship owner to build two LNG-fueled VLCCs, which will be delivered by April 2022.

Equipped with S-Fugas, an LNG fueling system independently developed by SHI, these vessels will comply with IMO 2020 which took effect early this year and reduce the emission of SOx by 99%, NOx by 85% and carbon dioxide by 25% compared to diesel fuel.

Other cutting-edge technologies of SHI, such as Energy Saving Devices (ESDs), which enhance fuel efficiency by improving rotational energy efficiency of propellers while operating, and SVESSEL, a smart ship solution, will be applied to the ships as well.

To preemptively respond to rising demand for cleaner ships in the wake of IMO 2020, SHI has developed a competitive edge in LNG-fueled vessels, adopting LNG fuel tanks and engines in different forms and materials as ME-GI and X-DF since 2012.

"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 an official of Samsung Heavy.

About Samsung Heavy Industries

Samsung Heavy Industries has successfully completed many of the world's first and largest shipbuilding and offshore EPC projects, with sole aim to establish global leadership in each of the participating market segments.

Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets.

The company has developed and built the first Arctic Shuttle-Tanker and LNG-FPSOs in the world, and has pioneered new market developments by developing innovative products such as LNG-FSRU, and various ships for polar applications, Arctic Ice-Breaker Container Ships.

In the offshore facilities sector, the company has fortified its reputation through its excellent technology and rich experience, by successfully delivering the world’s largest semi-submerged offshore drilling platform.