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    A010140   KR7010140002

SAMSUNG HEAVY INDUSTRIES CO., LTD.

(A010140)
  Report
End-of-day quote Korea Stock Exchange  -  2023-02-06
5630.00 KRW   -2.26%
02/02Samsung Heavy Industries : SHI, accelerating its transition to a `Smart shipyard`
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French oil giant TotalEnergies joins ammonia-powered tanker project

12/02/2022 | 04:07am EST
FILE PHOTO: A sign with the logo of TotalEnergies in Bouguenais

LONDON (Reuters) - France's TotalEnergies said it has joined a shipping project building test tankers which can be powered by ammonia, part of moves to speed up maritime industry decarbonisation.

Widely used in industrial applications, ammonia's suitability as a transport fuel has been limited because of the challenge of converting it into energy in a confined space.

TotalEnergies is joining a subsidiary of Norwegian chemical company Yara International ASA, leading ship certified Lloyd's Register, Samsung Heavy Industries and MAN Energy Solutions, the Maritime and Port Authority of Singapore and others in the 'Castor Initiative'.

This aims to develop two deep sea tankers that can run on ammonia, with both expected to be delivered in 2026.

"Ammonia could rapidly become a viable solution in the maritime sector while challenges remain to be addressed, in particular on the safety aspects," Jérôme Cousin, senior vice president shipping with TotalEnergies, said in a statement.

With about 90% of world trade transported by sea, shipping accounts for nearly 3% of global CO2 emissions, yet environmental campaigners say efforts to cut them are too slow.

The entry of TotalEnergies would accelerate efforts to deliver zero-emission deep sea tankers in the near future, Murali Srinivasan, SVP and commercial head of Yara Clean Ammonia, said separately. 

"The clock is ticking for the decarbonisation of the maritime sector."

(Reporting by Jonathan Saul; Editing by Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -0.30% 83.8 Delayed Quote.-6.97%
MSCI SINGAPORE (GDTR) 0.32% 5920.12 Real-time Quote.6.76%
SAMSUNG ELECTRONICS CO., LTD. 0.49% 61900 End-of-day quote.11.93%
SAMSUNG HEAVY INDUSTRIES CO., LTD. -2.26% 5630 End-of-day quote.10.18%
TOTALENERGIES SE 3.38% 57.54 Real-time Quote.-5.10%
WTI -0.23% 77.514 Delayed Quote.-8.77%
YARA INTERNATIONAL ASA -0.40% 446 Real-time Quote.3.99%
All news about SAMSUNG HEAVY INDUSTRIES CO., LTD.
02/02Samsung Heavy Industries : SHI, accelerating its transition to a `Smart shipyard`
PU
02/01Samsung Heavy Industries : SHI wins $2 bn orders in the first month of the new year alone
PU
01/31Seri damai and seri daya, latest sister vessels to join misc's eco-efficient lng carrie..
AQ
01/18Misc group partners industry experts in the carbon capture and storage value chain
AQ
01/04South Korean Shipyards Accelerate Efforts to Build Eco-Friendly Ships
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01/03Samsung Heavy Industries : SHI Speeds Up Development for Nuclear Power Plant On the Sea
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2022Samsung Heavy Industries : SHI Wins a KRW 160B Semiconductor Plant Construction Order
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2022South Korean Shipyards Secure More Orders in End-2022
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2022Samsung Heavy Industries : SHI wins an offshore plant order for KRW 2 trillion
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2022Samsung Heavy Industries : SHI Developed Its Own Boil-off Gas Recovery System for LNG carr..
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Analyst Recommendations on SAMSUNG HEAVY INDUSTRIES CO., LTD.
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Financials
Sales 2022 6 171 B 4,89 B 4,89 B
Net income 2022 -464 B -0,37 B -0,37 B
Net Debt 2022 1 420 B 1,13 B 1,13 B
P/E ratio 2022 -12,0x
Yield 2022 -
Capitalization 4 830 B 3 831 M 3 831 M
EV / Sales 2022 1,01x
EV / Sales 2023 0,78x
Nbr of Employees -
Free-Float 73,3%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 5 630,00 KRW
Average target price 6 688,24 KRW
Spread / Average Target 18,8%
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Managers and Directors
Joon-Wu Nam Chief Executive Officer & Director
Dong-Seol Kim Managing Director & Head-Finance
Jin-Taek Jeong Managing Director & Head-Technology
Hyun-Dong Lee Vice President & Head-Compliance Management
Jong-Gye Shin Independent Director