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Seapeak revealed this in its first-quarter results report on Friday.
In May 2026, the company entered into contracts with Samsung Heavy for the construction of three 174,000-cbm low-pressure dual-fueled (X-DF) LNG carrier newbuildings.
Seapeak said the vessels have an estimated total fully built-up cost of $756 million, or $252 million per vessel, and are scheduled for deliveries in the first half of 2029.
The Company intends to finance the estimated cost with its existing liquidity and future operating cash flow, as well as long-term debt financing to be arranged for the vessels prior to their scheduled deliveries.
Concurrently, Seapeak secured 10-year fixed-rate charter contracts, with one five-year extension option, with an “international energy company” for the three LNG carrier newbuildings.
Sepeak said these charters are expected to commence during the first half of 2029 upon delivery of the vessels.
Shipbuilding sources said that Australian LNG player Woodside is being named as the charterer of these vessels.
Samsung Heavy said in a separate stock exchange announcment on Monday that it has secured an order for three LNG carriers from an Oceania-based owner.
The shipbuilder will deliver the vessels by May 2029.
According to Samsung Heavy, the order is worth 1.12 trillion won ($754 million).
Including this new order, Sepeak booked eight LNG carriers at Samsung Heavy since November 2022.
In November 2022, Seapeak entered into contracts with Samsung Heavy for the construction of five 174,000-cbm M-type, Electronically Controlled, Gas Admission propulsion LNG carriers that have a total fully built-up cost of $1.2 billion.
Most recently, Sepeak ordered two LNG carriers worth approximately $503 million from Samsung Heavy in December this year, the company confirmed in its results report.
These two 174,000-cbm X-DF LNG carrier newbuildings are scheduled for deliveries in the second half of 2028.
LNG fleet
As of March 31, 2025, Seapeak’s fleet included 49 LNG carriers, two vessels fewer than in the December quarter.
These vessels include seven LNG carriers under construction and one LNG regasification terminal in Bahrain, in which Seapeak’s interests ranged from 20 percent to 100 percent.
Seapeak sold two of its steam LNG carriers this year.
In January 2026, the company sold the LNG carrier Seapeak Mars for net proceeds of $12.1 million, while in March, it sold Seapeak Jupiter for net proceeds of $15.3 million.