Samsung Heavy Industries signed a contract on September 14 with a ship owner in the Pacific region, which includes 4 large LNG carriers worth 1 billion dollars and 2 oil tankers worth 200 million dollars. This contract amounts to a total of 6 ships worth 1.2 billion dollars (approximately 1.6476 trillion won), bringing the total value of Samsung Heavy's shipbuilding orders this year to 7.3 billion dollars.
Significant Increase in Financial Performance
This figure exceeds last year's performance of Samsung Heavy's shipbuilding segment, which was 7.1 billion dollars, and is also 28 percent higher than this year's order target of 5.7 billion dollars. The customized LNG ships are of the large type with a loading capacity of 200,000 cubic meters, which is higher than the standard model's 174,000 cubic meters, reducing the number of trips needed to transport the same volume of cargo.
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Diversity in Ship Orders
Samsung Heavy has successfully secured orders for 18 LNG ships this year (including 1 LNG-FSRU). According to data released by Clarkson Research, the total volume of new shipbuilding orders in the first half of this year based on gross tonnage (CGT) increased by 66 percent compared to the same period last year. Notably, 59 LNG ships were ordered in the first half of 2026 alone, indicating a recovery trend in the overall order volume compared to last year.
Samsung Heavy Industries has also recorded balanced results in producing various ships apart from LNG vessels. To date, the company has secured a commercial ship order portfolio consisting of 42 ships, including 2 ethylene carriers, 4 gas carriers, 4 container ships, and 14 oil tankers. In the offshore sector, the company has also secured orders for 2 FLNG ships worth 4.4 billion dollars, fulfilling 54 percent of the target set for this sector.
The total order performance of Samsung Heavy, which includes both shipbuilding and offshore sectors, amounts to 44 ships and 11.7 billion dollars, equivalent to 84 percent of the total order target of 13.9 billion dollars for this year.
An official at Samsung Heavy stated that this order is a result of efforts to meet the long-term transportation goals of the ship owner and announced that the company will continue its selective strategy in ensuring profitability while meeting customer needs.
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