Samsung Heavy Industries Secures Orders for 20 LNG Carriers This Year

Two LNG Carriers Ordered by Asian Shipowner for 672.2 Billion Won

Commercial Ship Orders Reach 8 Billion Dollars, Achieving 140% of Annual Target

Total Orders Amount to 12.4 Billion Dollars, 89% of Goal

Samsung Heavy Industries has secured orders for 20 LNG carriers so far this year, continuing its successful order streak in its main ship categories.

LNG carrier built by Samsung Heavy Industries. Samsung Heavy Industries

On October 2, Samsung Heavy Industries announced that it has won an order for two LNG carriers from a shipowner in the Asia region, with the contract valued at 672.2 billion won. The vessels are scheduled to be delivered by May 2029.

Including this latest order, the company’s commercial ship division has recorded a total order volume of 8 billion dollars this year, which is 140% of its annual target of 5.7 billion dollars.

By vessel type, Samsung Heavy Industries has secured orders for a total of 46 ships: 20 LNG carriers (including one LNG-FSRU), 2 ethane carriers, 6 gas carriers, 4 container vessels, and 14 crude oil tankers.

When adding the 4.4 billion dollars in offshore orders, including two FLNG units, the company’s total contract volume reaches 48 vessels and 12.4 billion dollars. This represents 89% of its yearly order target of 13.9 billion dollars.

Samsung Heavy Industries cited its production capacity, capable of responding to large-scale LNG carrier orders, and the transformation into a smart shipyard as key competitive advantages. The company’s third dock at the Geoje Shipyard measures 640 meters in length and 97.5 meters in width, and can simultaneously build four large LNG carriers.

The company is also working on establishing a smart shipyard based on its '3X' strategy, which encompasses digital, artificial intelligence (AI), and robotics integration. In July, Samsung Heavy Industries announced plans to invest 10 trillion won in the Geoje complex to create a high value-added shipbuilding and offshore infrastructure base.

A representative from Samsung Heavy Industries said, “We play a key role in the global LNG value chain, including LNG carriers and FLNG units,” adding, “We will continue to lead the market through differentiated technology and shipbuilding competitiveness.”

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