Korean Shipbuilders Ride LNG Boom with $1.2 Billion Order

Samsung Heavy Industries has secured a major contract worth over $1.2 billion for four liquefied natural gas (LNG) carriers and two crude oil tankers, marking a significant rebound in demand for LNG vessels.

The order is part of a growing trend among Korean shipbuilders to expand into new businesses tied to LNG vessels, including floating LNG facilities and AI operations. Samsung Heavy Industries plans to apply its proprietary natural gas cooling system, Sense, to its FLNG facilities and is seeking classification approval for the technology.

Meanwhile, rival shipbuilder HD Hyundai Heavy Industries is focusing on next-generation LNG carriers and digital transformation, showcasing a futuristic design that frees up deck space and makes it easier to install wind-assisted propulsion systems. Hanwha Ocean, another Korean shipbuilder, has made the global debut of a 60-megawatt floating data center (FDC), which uses seawater for cooling to cut energy use.