Samsung Heavy Wins $494 Million Order for Two LNG Carriers

Samsung Heavy Industries has secured a 672.2 billion won ($494.3 million) contract to build two liquefied natural gas carriers for an unidentified Asian shipowner, extending a strong year for the South Korean shipbuilder. The vessels are scheduled for delivery by May 2029.

The contract brings Samsung Heavy’s LNG carrier orders this year to 20. That tally includes one floating storage and regasification unit, a vessel designed to receive, store and regasify LNG. The new award also pushes the company’s merchant ship orders for 2026 to $8 billion, equivalent to 140 percent of its annual target of $5.7 billion.

Samsung Heavy has booked 46 commercial vessels this year. The portfolio comprises 20 LNG carriers, including the floating storage and regasification unit, two ethane carriers, six other gas carriers, four container ships and 14 crude oil carriers. When two floating LNG production, storage and offloading facilities are included, the company’s total orders reach $12.4 billion for 48 vessels and offshore facilities.

The latest order underscores the importance of gas-related vessels to Samsung Heavy’s backlog. LNG carriers are complex, high-value ships that require systems capable of maintaining cargo at extremely low temperatures during transport. The company also competes in the offshore LNG segment through floating production facilities, broadening its role across the gas supply chain.

Samsung Heavy credited part of its order performance to the production capacity of the No. 3 dock at its Geoje shipyard. The dock is 640 meters long and 97.5 meters wide, allowing four large LNG carriers to be built simultaneously. The company said that capacity supports stable delivery schedules even when it receives orders in large batches.

The shipbuilder is also pursuing a smart-yard strategy it calls “3X,” covering digital, artificial intelligence and robotics transformation. The program is intended to improve production efficiency and quality competitiveness. In July, Samsung Heavy announced plans to invest 10 trillion won in its Geoje complex to establish a construction base for advanced, high-value vessels and offshore infrastructure.

For Samsung Heavy, the two-ship contract adds to an order book that has already surpassed its full-year merchant ship target. The scheduled 2029 delivery also gives the yard several years of production visibility as it manages simultaneous demand for LNG carriers, conventional commercial ships and offshore facilities.