Samsung Heavy secures order for one LNG carrier - LNG Prime

Samsung Heavy secures order for one LNG carrier - LNG Prime

South Korean shipbuilding giant Samsung Heavy Industries has secured a new order to build one liquefied natural gas (LNG) carrier.

Samsung Heavy said on Tuesday it will build the LNG carrier for an unidentified owner in Asia for 350.8 billion won ($260 million).

The shipbuilder will deliver the LNG carrier by September 2026.

Samsung Heavy did not provide any additional information regarding the contract.

Last year, SHI secured orders for 36 LNG carriers, marking a record for the largest number of orders for LNG carriers in a year for the shipbuilder.

In 2023, the shipbuilder and Japan’s JGC won a contract from Malaysia’s Petronas to build the first nearshore FLNG with a capacity of about 2 million tonnes.

In addition to the $1.5 billion FLNG contract, it also won orders for six LNG carriers worth about $1.5 billion.

Four out of these LNG carriers are for Japan’s MOL and two for US-based Chevron.

Samsung Heavy secured a contract from MOL in April to build two LNG carriers for about $258.5 million per vessel and two LNG carriers in February for about $248 million per vessel.

The Chevron LNG carriers announced in June are each worth about $254.5 million.

Including this latest contract, Samsung Heavy has secured a total of $6.6 billion in orders this year, achieving 69 percent of its annual target of $9.5 billion.

Samsung Heavy is expected to secure more orders for LNG carriers by the end of this year as part of the second phase of the giant Qatari shipbuilding program.

As of August 31, the shipbuilder had 85 LNG carriers in its order backlog worth about $18.4 billion.