Samsung Heavy Industries Co. secured contracts worth 2.1 trillion won ($1.51 billion) to build six liquefied natural gas carriers, marking the shipbuilder’s return to form after struggling with a recent drought in new orders.
The South Korean company announced it signed separate agreements with two Oceania-based shipowners on the same day for the vessels, which will be delivered sequentially through November 2028. The contracts break Samsung Heavy’s lean period as it competes against aggressive pricing from Chinese rivals in the global shipbuilding market.
Samsung Heavy has been working to rebuild its order book after facing margin pressures and fewer contracts in recent months. The LNG carrier segment remains one of the more profitable areas for Korean shipbuilders, with vessels typically commanding higher prices than container ships or bulk carriers.
The timing aligns with growing demand for cleaner-burning natural gas transportation as shipping companies prepare for stricter environmental regulations. Samsung Heavy cited expectations that eco-friendly vessel demand will remain steady following the International Maritime Organization’s plans to introduce a global shipping carbon tax.
The latest contracts add to Samsung Heavy’s recent success in securing LNG carrier orders, including a massive $3.44 billion deal for 15 vessels earlier this year. The company has positioned itself as a leader in environmentally compliant designs as the industry shifts toward lower-emission technologies.
The vessels will join a growing fleet serving expanding LNG trade routes, particularly from major exporters in the Middle East and North America to Asian markets.
