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Samsung Heavy wins W609.7b order for 2 LNG carriers

Feb. 1, 2023 - 10:30 By Yonhap
A liquefied natural gas carrier built by Samsung Heavy Industries Co. (Yonhap)

South Korean shipyard Samsung Heavy Industries Co. said Wednesday it has won a 609.7 billion-won ($495 million) order to build two liquefied natural gas (LNG) carriers for an Oceanian shipper.

Samsung Heavy said in a regulatory filing that it will deliver the vessels to the undisclosed shipping company by mid-January 2027.

So far this year, Samsung Heavy has clinched orders worth some $2 billion, or 21 percent of its 2023 target of $9.5 billion. Early last month, Samsung Heavy obtained a $1.5 billion order for a floating liquefied natural gas (FLNG) facility.

The shipbuilder posted orders of $12.2 billion and $9.4 billion in 2021 and 2022, surpassing its full-year goals for two years running.

A company official said the shipbuilder will do its utmost to achieve its yearly order goal for the third straight year on strong demand for LNG carriers and vessels powered by eco-friendly fuels.

Samsung Heavy, the world's third-largest shipbuilder by order backlog, is the shipbuilding arm of South Korea's top family-controlled conglomerate Samsung Group, whose marquee unit is Samsung Electronics Co. (Yonhap)