Samsung Heavy Industries lands LNG carrier order worth $250 million

By Park Hye-won, The Herald Business

Samsung Heavy Industries said Monday it signed a contract with an Oceania-based shipping company to supply one liquefied natural gas carrier valued at 385.5 billion won ($250 million).

The deal brings the shipbuilder's cumulative order intake this year to $8.5 billion across 29 vessels, reaching 61 percent of its annual order target of $13.9 billion.

Samsung Heavy Industries has secured orders for 28 commercial vessels and one floating LNG production unit this year. In the commercial vessel segment, order intake has already reached $5.2 billion — 91 percent of the $5.7 billion target for that category. "We expect to hit our annual target ahead of schedule before the end of the first half," a company official said.

By vessel type, the orders comprise 14 LNG carriers, two very large ethane carriers, four very large gas carriers, two container ships, six crude oil tankers and one floating LNG production unit.

The company attributes the string of wins to its differentiated competitiveness in the LNG sector. Samsung Heavy Industries said it will continue selectively pursuing high-value vessel types while thoroughly preparing for multiple floating LNG projects currently under negotiation.