Samsung Heavy Industries Wins KRW 1.6 Trillion in LNG Carrier Orders, Surpassing Last Year’s Merchant Ship Record

Contracts Signed for Four 200,000 CBM LNG Carriers and Two Crude Oil Tankers
Merchant Ship Orders Reach $7.3 Billion, Surpassing Annual Target by 28%
Eighteen LNG Carrier Orders Secured This Year Alone

Samsung Heavy Industries has secured orders for a total of six large vessels, including LNG carriers and crude oil tankers, worth KRW 1.6476 trillion, surpassing its annual merchant ship order record set last year.

A 266,200 CBM-class ultra-large LNG carrier built by Samsung Heavy Industries. Samsung Heavy Industries

On September 14, Samsung Heavy Industries announced that it had signed contracts with a shipowner in the Oceania region to build four 200,000 CBM-class LNG carriers for $1 billion and two crude oil tankers for $200 million. The total order amounts to $1.2 billion.

The LNG carriers ordered this time have a cargo hold capacity of 200,000 CBM, which is larger than the standard class of 174,000 CBM. This allows for fewer voyages when transporting the same volume of cargo, thereby improving long-distance transportation efficiency.

Including this latest contract, Samsung Heavy Industries has received orders for 18 LNG carriers this year. Its cumulative order value in the merchant ship segment has reached $7.3 billion, surpassing last year's total of $7.1 billion and exceeding the annual target of $5.7 billion by 28%.

By vessel type, the company has secured orders for a total of 42 vessels this year: 18 LNG carriers (including one LNG-FSRU), 2 ethane carriers, 4 gas carriers, 4 container ships, and 14 crude oil tankers.

In the offshore sector, Samsung Heavy Industries has also won contracts for two floating liquefied natural gas production facilities (FLNG) worth $4.4 billion. Combined with the shipbuilding sector, this brings the company's cumulative order record for the year to 44 vessels worth $11.7 billion, achieving 84% of its annual target of $13.9 billion.

According to Clarkson Research, the global new ship orders in the first half of this year, measured in compensated gross tonnage (CGT), increased by 66% compared to the same period last year. The number of LNG carrier orders reached 59 in the first half alone, totaling 9.7 million CBM, which is similar to the total annual order volume from last year.

A representative from Samsung Heavy Industries stated, "Winning this order for large LNG carriers is a result of proactively meeting the shipowner's long-distance transport needs," adding, "We will continue to pursue selective order-taking that meets customer demand and convenience, with a focus on profitability."

This content was produced with the assistance of AI translation services.