Samsung Heavy Industries Secures LNG Carrier Order Worth 721.1 Billion Won, Total Orders Surpass 11 Trillion Won Last Year

2024 Orders Total $7.9 Billion, Exceeding 11 Trillion Won
Profitability-Focused Selective Orders Surpass Previous Year's Performance

With the order for two liquefied natural gas (LNG) carriers, Samsung Heavy Industries recorded a total order value exceeding 11 trillion won last year.

Photo of a liquefied natural gas (LNG) carrier built by Samsung Heavy Industries. Photo by Samsung Heavy Industries

Samsung Heavy Industries announced on January 2 that it had secured an order for two LNG carriers worth 721.1 billion won from a shipping company in the Oceania region on December 31. These vessels are scheduled to be delivered sequentially by September 2028.

With this contract, Samsung Heavy Industries secured orders for a total of 43 vessels worth 7.9 billion dollars (approximately 11.3949 trillion won) last year, surpassing the previous year's performance of 36 vessels and 7.3 billion dollars.

The vessels ordered from Samsung Heavy Industries last year included 11 LNG carriers, 9 shuttle tankers, 9 container ships, 2 ethane carriers, 11 crude oil tankers, and one offshore production facility pre-work contract. As of the end of last year, the company's order backlog stood at 133 vessels, worth 28.6 billion dollars.

A representative from Samsung Heavy Industries stated, "Despite the rapidly changing business environment, including U.S.-imposed trade tariffs, we were able to exceed last year's order performance by focusing on profitability-driven selective order strategies based on a stable order backlog. We expect the solid order momentum, such as the recovery in LNG carrier orders, to continue this year as well."