Samsung Heavy secures $1.01 billion order for 4 LNG carriers

A liquefied natural gas (LNG) carrier made by Samsung Heavy Industries [SAMSUNG HEAVY INDUSTRIES]

Korean shipyard Samsung Heavy Industries has secured a 1.4 trillion won ($1.01 billion) order from a Middle Eastern shipping company to build four liquefied natural gas (LNG) carriers.

The four vessels will be delivered to an undisclosed company by August 2028, according to an electronic disclosure from the company on Monday.

The Korean shipbuilder has secured orders of $4.9 billion to build 22 ships so far this year to reach 51 percent of its 2024 goal of $9.7 billion.

The vessels consist of 19 LNG carriers, two very large ammonia carriers and one shuttle tanker.

“We will continue to leverage our technological competitiveness to achieve our order targets in various projects, including gas carriers and offshore facilities, which are expected to be ordered in the latter half of the year,” a Samsung Heavy Industries spokesperson said in a statement. “We plan to maintain a solid order backlog and focus on selectively securing profitable contracts.”

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]