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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Heavy Industries Co.,Ltd    010140   KR7010140002

SAMSUNG HEAVY INDUSTRIES CO.,LTD

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Samsung Heavy Industries : Wartsila & Samsung to co-Develop Most Efficient LNG Carrier & Shuttle Tanker Solutions

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04/08/2019 | 05:47am EDT

The technology group Wartsila and Samsung Heavy Industries (SHI) have signed a Joint Development Project (JDP) agreement aimed at establishing a more efficient solution for LNG Carrier and Shuttle Tanker vessels. Overall cost optimisation, including both CAPEX and OPEX, is among the project aims. The agreement was signed on 3 April at the LNG19 exhibition in Shanghai.

The JDP will build on the sharing of knowledge and experience between SHI and Wartsila, a company with unique single-source supplier credentials. It is expected that the agreement, which provides a level of equality that is greater than in normal shipyard/supplier relationships, will benefit both parties and the industry as a whole, since it gives valuable opportunities for important co-creation.

“At Wartsila we are committed to creating greater efficiencies, better environmental sustainability, and improved safety for our customers. The joint development with SHI will support this commitment. SHI is a major high-tech, high-value shipbuilder with a number one newbuilding share in various vessel markets. We are, therefore, delighted to be partnering with them in a project that will ultimately benefit owners and operators around the world,” says Timo Koponen, Vice President, Processing Solutions, Wartsila Marine.

“We look forward to working with Wartsila to co-develop LNG Carriers and Shuttle Tankers with improved efficiency.

We are both market leaders in our spheres, and this joint development underscores the mutual respect and appreciation that we have for each other’s knowledge and experience,” says Jin-Taek Jung, Executive Vice President, Engineering & Procurement Operations, SHI.

An important driver for the JDP is the strong LNG carrier newbuilding market. There are potentially dozens of new vessels to be ordered for transporting increasing volumes of LNG from both new and extended export LNG terminals in Africa, Australia, Middle East and USA.

(c) 2019 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (KRW)
Sales 2019 6 806 B
EBIT 2019 -4,42 B
Net income 2019 -78,9 B
Debt 2019 1 126 B
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 45,58
EV / Sales 2019 0,89x
EV / Sales 2020 0,77x
Capitalization 4 909 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 10 119  KRW
Spread / Average Target 30%
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Managers
NameTitle
Dae-Yong Park President, Chief Executive Officer & Director
Yeon-Kyung Choi MD & Head-Production Operations Team
Dong-Seol Kim Managing Director & Head-Finance
Jae-Kwang Eom MD & Head-Production Technology Team
Boo-Ki Kim MD & Head-Chung Ang Research Institute