Samsung Heavy Industries Achieves 2.1 Trillion Won Order Milestone, Secures Six LNG Carriers

Final FLNG Contract in Sight by Year-End
Annual Order Target Within Reach
Back-to-Back Contracts with Oceania Shipowners

Samsung Heavy Industries has secured orders for six liquefied natural gas (LNG) carriers worth a total of 2.1 trillion won from two shipowners in Oceania. The company analyzes that, amid the global trend of increasing orders for eco-friendly vessels, this signals a green light for achieving its annual order target.

On August 18, Samsung Heavy Industries announced that it had signed contracts on August 15 to build four LNG carriers with one shipowner in the Oceania region and two more with another shipowner. The newly secured vessels are scheduled to be delivered sequentially by November 2028.

Samsung Heavy Industries LNG Carrier. Samsung Heavy Industries

With this contract, Samsung Heavy Industries’ cumulative orders for the year have reached $4.8 billion (approximately 6.6 trillion won), approaching half of its annual target of $9.8 billion. In particular, in the commercial ship sector, the company has achieved $4.1 billion (70%) out of its $5.8 billion target, maintaining steady progress.

Samsung Heavy Industries’ order record for this year includes seven LNG carriers, nine shuttle tankers, two ethane carriers, four crude oil tankers, two container ships, and one pre-FEED contract for offshore production facilities. Based on the $700 million preliminary contract for offshore production facilities signed in July, the company is also planning to secure a final contract for one floating LNG production facility (FLNG) by the end of the year.

A representative from Samsung Heavy Industries stated, “With the International Maritime Organization (IMO) introducing a global shipping carbon tax, demand for eco-friendly vessels is expected to remain steady,” adding, “We will continue to pursue selective orders focused on profitability, leveraging our sufficient order backlog.”