Samsung Heavy Lands $1.2B LNG Carrier Deal Amid Booming Orders
Samsung Heavy Industries Co., a South Korean shipbuilder, has secured a significant contract to build four large liquefied natural gas (LNG) carriers and two oil tankers. The deal is worth 1.65 trillion won (approximately $1.22 billion). In a regulatory filing, Samsung Heavy announced that it signed the agreement with an undisclosed client based in Oceania.
The latest contract brings Samsung Heavy's total orders for this year to $11.7 billion, representing 84 percent of its annual target. This is part of the company's significant order book, which includes contracts worth $7.3 billion for 42 commercial vessels so far this year. The shipbuilder has also secured a combined $4.4 billion contract for two floating liquefied natural gas (FLNG) production, storage and offloading facilities.
The South Korean company's success in securing large-scale orders is a testament to its expertise in building complex ships and equipment. Samsung Heavy's focus on meeting the growing demand for LNG carriers and other vessels has contributed significantly to its growth this year.