Samsung Heavy Wins US$3.1 Billion Eco Ship Deal From Taiwan’s Evergreen

South Korea’s Samsung Heavy Industries (SHI), has signed a large-scale eco-friendly shipbuilding contract worth nearly US$3.13 billion for sixteen 16,000 TEU class methanol-powered container ships from Taiwan’s Evergreen Marine Corporation.

The order amount is the largest ever for a single shipbuilding contract and through the contract, SHI expects to further strengthen its competitiveness in the eco-friendly ship market.

The new ships, which are capable of using methanol for fuel, are part of Evergreen’s commitment to reduce the carbon output of its massive fleet over the next decade.

Methanol can reduce sulfur oxides emissions by 99%, nitrogen oxides by 80%, and carbon dioxide by more than 20%, compared to the traditional ship fuel, bunker C oil.

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The ships will also help the corporation adhere to the decarbonisation scheme recommended by the UN’s International Maritime Organization, which aims to reduce C02 emissions in the international transport industry by at least 40% by 2030.

According to a statement from SHI all of the ships are expected to be delivered by the end of 2027.