Samsung Heavy Industries Secures $1.22 Billion Contract for LNG Carriers and Oil Tankers
Quick Look
Samsung Heavy Industries announced a $1.22 billion contract to build four LNG carriers and two oil tankers for an undisclosed Oceania-based client, bringing its 2026 order value to $11.7 billion, or 84% of its annual target.
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Why It Matters
Samsung Heavy Industries is a major South Korean shipbuilder. The company has been securing contracts throughout 2026 for LNG carriers and other vessels.
SEOUL, Sept. 14 (Yonhap) -- Samsung Heavy Industries Co. said Monday it has clinched a 1.65 trillion-won (US$1.22 billion) contract to build four large liquefied natural gas (LNG) carriers and two oil tankers.
In a regulatory filing, Samsung Heavy said it signed the deal with an undisclosed Oceania-based client.
With the latest order, the South Korean shipbuilder has secured contracts worth US$7.3 billion so far this year for 42 commercial vessels, including 18 LNG carriers.
Taking into account the two floating liquefied natural gas (FLNG) production, storage and offloading facilities valued at a combined $4.4 billion, Samsung Heavy's cumulative orders for 2026 have reached $11.7 billion, or 84 percent of its overall annual target.
Open Questions
- Identity of the Oceania-based client
- Delivery timeline for the vessels
- Specific technical specifications of the LNG carriers and oil tankers
