Shipbuilder Samsung Heavy Industries secured an order for 4 liquefied natural gas carriers from an unnamed Middle Eastern shipper.
The country's three biggest shipbuilders all logged operating profit in the first quarter on the back of rising ship prices and reduced production costs.
Samsung Heavy Industries secured a $3.44 billion contract to build 15 LNG carriers for a shipper rumored to be Qatar's state-run QatarEnergy.
Samsung Heavy Industries reported an operating profit of 75.8 billion won in Q3, thanks to increased sales of LNG carriers, surpassing market expectations.
Samsung Heavy Industries has secured a $260 million order for an LNG carrier from an Asian shipper, helping reach 69 percent of its annual order target.
Korea's three big shipbuilders will be vying to win a series of liquefied natural gas (LNG) carrier orders scheduled for the latter half of the year, including an approximately $10 billion contract from Qatar.
Korea's three biggest shipbuilding companies — HD Hyundai, Samsung Heavy Industries and Hanwha Ocean — are set to showcase their eco-friendly ship technologies at Gastech 2023 commencing in Singapore on Tuesday.
Samsung Heavy Industries is facing a potential contract cancellation regarding the construction of icebreaking LNG carriers for Russia, due to sanctions imposed on Russia in response to the Ukraine conflict.
Samsung Heavy Industries stayed in the black for a second consecutive quarter, reporting an operating profit of 58.9 billion won ($46.1 million) driven by its focus on high-profit vessels including liquefied natural gas (LNG) carriers.
Samsung Heavy Industries has landed a 3.96 trillion-won ($3.1 billion) contract to build 16 container ships for Evergreen Marine.
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