Samsung Heavy Industries announced on December 14 that it has secured a contract worth 1.6476 trillion KRW (approximately 1.22 billion USD) to build six vessels for a shipowner in the Oceania region. The order includes four liquefied natural gas (LNG) carriers and two crude oil tankers.

The four LNG carriers in this order are larger than the standard 174,000 cubic meter models, boasting a capacity of 200,000 cubic meters. This increased size allows for more efficient operations, reducing the number of voyages required to transport the same volume of cargo.

With this latest deal, Samsung Heavy Industries' orders for commercial vessels this year have reached 7.3 billion USD, surpassing last year's 7.1 billion USD. The company has now exceeded its 2026 target of 5.7 billion USD for commercial ship orders by 28%.

The breakdown of the 42 vessels ordered includes 18 LNG carriers (including one LNG-FSRU), two ethane carriers, four gas carriers, four container ships, and 14 crude oil tankers.

In the offshore sector, the company has secured contracts for two floating liquefied natural gas production facilities (FLNG) worth 4.4 billion USD, achieving 54% of its 8.2 billion USD offshore order target for the year.

Combining shipbuilding and offshore orders, Samsung Heavy Industries has secured contracts for 44 vessels totaling 11.7 billion USD, reaching 84% of its overall 2026 order target of 13.9 billion USD.

A spokesperson for Samsung Heavy Industries stated that this large-scale LNG carrier order demonstrates the ability to meet shipowners' long-distance transport needs. It will continue to pursue selective orders that align with customer requirements and prioritize profitability.

Additionally, Samsung Heavy Industries reported consolidated second-quarter revenues of 3.2307 trillion KRW (about 2.4 billion USD) and an operating profit of 325 billion KRW (approximately 241.8 million USD). These figures represent year-over-year increases of 20.4% and 58.7%, respectively.

Samsung Heavy Industries announced on December 14 that it has secured a contract worth 1.6 …

Samsung Heavy Industries Secures 1.6 Billion KRW LNG Carrier Deal: What This Means for the Asian Shipping Market