November 22, 1999 in Social Responsibility News

SHI Has Successfully Constructed the World's Largest New Membrane-type LNG Carrier

Samsung Heavy Ind. has successfully constructed the world's largest New Membrane-type LNG carrier, which is


.The largest single hull-form vessel in the world.
.The world first Mark III-type with the largest loadage of 138,000m3
.Lighter and faster than the existing LNG vessels.
.High value-added ship amounting to $220 million, a price equivalent to 10 freighters.
Samsung Heavy Ind. (President & CEO : Lee Hai-kyoo) is electrifying the world shipbuilding industry again with its successful construction of a New Membrane Mark III-type carrier, a 138,000m3-class LNG vessel with the world's largest loadage.

Of Mark III-type membrane ships, the 35,000m3-class ship built by Japanese NKK Shipbuilding Co. has been the largest so far in the world. However, Samsung Heavy Ind. broke the record by building a 138,000m3-class LNG vessel for the first time in the world. The new LNG vessel,though the smallest in size, carries the largest quantity of cargo and runs the fastest among the LNG carriers built so far.

The new LNG carrier is high value-added, high-tech vessel whose price was quoted at $220 million at the time of construction order, which has equivalent to the price of three VLCCs or four 5,500 ton TEU-class containers or ten Panamax-class freighters in terms of the current market price.

This vessel measures 278.8m in length, 42.6m in width and 26.0 m in depth, and navigates at 20.7 knots,the fastest speed in the world. It is the largest single hull-form vessel in the world. It can load and carry 138,378m3 of natural gas, which is equivalent to two day's quantity of LNG being consumed in Korea.

Especially, the New Membrane Mark III-type LNG carrier, weighing 25% less than the existing hull-independent hemispherical moss type vessel, takes pride in its wide visual scope, superior navigation less vulnerable to wind, and in its excellent steering stability, because its hull and cargo hold were built in a monolithic structure to keep the gravity center downward.

Also it weighs 13% less than the current membrane-type LNG vessel. Samsung Heavy Ind. could pare down the cargo-hold insulation plate with a high-tech method to 250mm, half the thickness of the existing record of 530mm. SHI used Korea-made stainless materials that are more durable than nickel alloy steel and halved the welding area with an eye to cut down on operation fuel as well as construction costs.

The latest shipbuilding trends show that the moss type LNG carrier is being replaced by the membrane type. Considering the fact that GTT, the membrane-type technology holder, is said to make the Mark III the standard type of various membrane models, SHI's successful construction of large-sized membrane-type LNG carrier heralds the age of Mark III model in the world shipbuilding industry.

SHI predicts that the demand for LNG carriers will keep increasing in 2000s in an environment-conscious atmosphere and that demand for LNG vessels will reach about 43 vessels by 2010 (with 4-5 increasing every year). On this meaningful occasion, SHI is ready to secure 25% of the world shipbuilding market share by early 2000 through proactive business approaches based on high-tech capabilities.

Meanwhile, the New Membrane Mark III-type LNG carrier was christened SK Supreme by the wife of Mr. Han Gap-su, President of the Korea Gas Corporation, at a ceremony held on Nov 19 at SHI's Koje Ship Yard, attended by the shipowner Mr. Lee Seung-kwon, President of SK Shipping Co. and Mr. Lee Hai-kyoo, President of Samsung Heavy Ind. The new ship will be placed on the service line between the Middle East and Pyongtaek and Inchon, Korea.


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