SOUTH Korea’s Samsung Heavy Industries has announced that it has signed a Won1.1trn ($786m) newbuilding contract for four 16,000 teu containerships with an Asian shipping company.

The vessels, which will be delivered by December 2027, have been ordered by Taiwanese carrier Wan Hai, according to a local analyst.

The deal follows Wan Hai’s confirmation at the end of October that it had ordered four 16,000 teu dual-fuel methanol containerships each from SHI and HD Hyundai Samho, with a combined value of around $1.5bn-$1.6bn.

The neo-panamax boxships were considered the largest containerships for Wan Hai. The company is investing in fleet expansion as part of its long-term development strategy.

For SHI, which has been focusing on the lucrative LNG carrier business, Wan Hai’s four boxships are its first container order this year.

The price per ship of a newly ordered 16,000 teu containership is calculated at $197m. The price of environmentally friendly containerships is in line with the shipbuilder’s selective order taking in favour of high-value ships.

Including these orders, SHI has so far received orders for a total of 33 ships worth $6.8bn, reaching 70% of its annual order target of $9.7bn.

By ship type, the company has received orders for 22 LNG carriers, two ammonia carriers, one shuttle tanker, four suezmax tankers and four containerships.

“Following the tightening of environmental regulations on gas emissions from ships, demand for the replacement of old ships with new ones is expected to increase,” SHI said in a statement.

“We will do our best to meet our annual order target based on LNG carriers, for which we are steadily receiving orders, as well as FLNG and environmentally friendly ships.”

Meanwhile, another South Korean shipbuilder, HJ Shipbuilding & Construction, announced that it had signed a contract with a European shipowner for four 7,900 teu eco-containerships worth Won606.7bn.

The ships are similar in type to four other 7,900 teu containerships that the yard has won from a different European shipping company, so productivity and profitability are expected to improve with repeated shipbuilding.

The four 7,900 teu vessels will be built at HJSC’s Yeongdo shipyard. Deliveries will start in 2026.

The containerships will be equipped with scrubbers to comply with the International Maritime Organization's SOx emission regulations from ships and methanol-ready propulsion systems.

In the year to date, the company has secured orders for eight 7,900 teu containerships worth Won1.2trn.

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