[KOLBIA/ June27, 2023] Dongsung Finetec, a cryogenic insulator manufacturer based in South Korea, has secured its largest-ever contract in the company's history. The company announced on the 27th that it has signed a deal with Samsung Heavy Industries to supply cooling insulators for LNG carriers, totaling 441 billion Korean won. This contract amount represents 101% of Dongsung FineTec's sales from the previous year, making it a significant milestone.

With this contract, Dongsung Finetrc has now amassed work orders for over 100 ships, valued at 1.98 trillion won. This backlog of orders is equivalent to four years' worth of work, highlighting the company's strong position in the market. The demand for LNG insulation, which is crucial for LNG cargo windows, has been rising steadily, driven by the booming LNG carrier industry.

Anticipating further growth in orders for LNG carriers and environmentally friendly ships, fueled by stricter marine environmental regulations, Dongsung Finetec is considering investing in expanding its LNG cooling production facilities. The company aims to capitalize on the increasing demand in the market and solidify its position as a leading supplier in the industry.