Samsung Heavy Industries Co., a major South Korean shipbuilder, said Tuesday it has received a US$220 million order for two very large ethane carriers (VLEC) from an Asian shipper.

Samsung Heavy Industries wins $220 mln order for 2 ethane carriers

Samsung Heavy plans to build two 98,000-cubic-meter VLECs for an unidentified shipper in the Asian region by June 2022, the company said in a regulatory filing.

"If ethane exporters such as the United States and Norway increase their ethane production, there will be more orders for VLECs," a company official said.

Samsung Heavy said it has received 11 VLEC orders, or 61 percent, out of 18 VLEC orders placed in the market.

Samsung Heavy has obtained orders to build seven ships worth $700 million so far this year.

In the January-June period, the shipbuilder's net losses widened to 931 billion won ($785 million) from 412 billion won a year earlier.

Source: Yonhap