Officially Announced! Samsung Heavy Industries Receives Another Container Ship Order from Evergreen Marine

On April 28, Samsung Heavy Industries announced that it had signed a contract with an Asian shipowner for the construction of two container ships, with a total contract value of 561.9 billion won (approximately US\$389 million, or 2.84 billion RMB). The price per ship is approximately US\$195 million, and the ships are scheduled for delivery before January 2028.

Including these two new ships, Samsung Heavy Industries has received orders for 18 new ships totaling US\$2.6 billion (approximately 18.967 billion RMB) this year, representing 27% of its annual order target of US\$9.8 billion. This includes one LNG carrier, nine shuttle tankers, two very large ethane carriers (VLECs), four crude oil tankers, and two container ships.

Samsung Heavy Industries did not disclose the specific information of the shipowner and ship type for this order. However, on April 24, Wan Hai Lines, the third-largest shipping company in Taiwan, announced an increase in orders for four 16,000 TEU methanol-ready container ships, with Samsung Heavy Industries and HD Hyundai Mipo Dockyard each building two. This new order is an option from a contract signed last November for four similar ships, and the price remains the same.

These new ships use traditional power and have a methanol dual-fuel ready design. These are the largest ships in Wan Hai Lines' fleet, exceeding the 18 13,100 TEU container ships it ordered from the HD Hyundai Group and Samsung Heavy Industries four years ago.

A Samsung Heavy Industries representative said: "The proportion of old container ships and crude oil tankers is constantly increasing. With the strengthening of environmental restrictions by the International Maritime Organization (IMO) and the implementation of EU carbon emission restrictions, the demand for renewal and replacement is expected to continue to increase. Therefore, Samsung Heavy Industries is expanding its order portfolio with various ship types."

With the recovery of demand for container ships, especially the continued rise in the price of newly built container ships, the three major shipbuilders in South Korea have returned to the container ship construction market since the second half of 2024. In November last year, Samsung Heavy Industries received an order from Wan Hai Lines for four 16,000 TEU methanol-ready container ships, which was also the company's first container ship order in 2024.

A Samsung Heavy Industries representative said: "The company plans to continue to maintain a selective order-taking strategy based on profitability, ensuring that it receives about two FLNG (floating liquefied natural gas production, storage, and offloading unit) orders per year, achieving an effective balance between ships and offshore equipment."

Samsung Heavy Industries stated that its current order backlog exceeds US\$30 billion, ensuring sufficient workload for more than three years. Therefore, in 2025, it plans to continue to prioritize a selective order-taking strategy based on profitability and a stable order backlog. In addition to LNG carriers, Samsung Heavy Industries is also focusing on high value-added ship types such as shuttle tankers and VLECs, continuously expanding its order portfolio. While maintaining a selective order-taking strategy centered on high value-added ship types, Samsung Heavy Industries will also carefully study the market conditions of container ships and tankers and respond flexibly to changes in the global market environment. In addition, Samsung Heavy Industries is also striving to secure FLNG orders from countries such as Mozambique, the United States, and Canada.