Samsung Heavy to build LNG carrier quartet

South Korean shipbuilder Samsung Heavy Industries has won orders to build four liquefied natural gas (LNG) carriers.

Samsung Heavy said it would build two LNG carriers for an owner based in Africa and deliver them by March 2025.

This order has a price tag of 582.1 million won ($429 million) or about $214.5 million per vessel.

As per the the other two LNG tankers, Samsung Heavy will construct these vessels for an owner based in Bermuda and deliver them by September 2025.

The unidentified owner will pay 583 million won ($430 million) or about $215 million per ship.

Such as the order DSME announced on Tuesday for seven LNG carriers, these contracts are most likely related to the massive shipbuilding program by state-run QatarEnergy.

The price of $214-$215 million per vessel is the same as the price for the 14 174,000-cbm LNG carriers SHI won in June and which are part of the QatarEnergy program, as well as other orders at KSOE and DSME.

Shipbuilding sources said that a Korean consortium consisting of H-Line Shipping, Pan Ocean, and SK Shipping ordered two out of these four vessels under QatarEnergy’s program.

Besides K3, JP Morgan ordered two LNG carriers at Samsung Heavy as well, the sources said.

With this latest order, Samsung Heavy won orders for 37 ships worth $7.2 billion so far this year, achieving or 82 percent of its yearly target of $8.8 billion.

(Article updated to add more information regarding the owners behind the order.)

Most Popular

Golar’s Macaw produces first LNG at small liquefaction unit in Texas

Macaw announced in a social media post on Wednesday it achieved its first LNG from stranded flare in Texas...

Third Plaquemines LNG cargo heads to Europe

The 2021-built 174,000-cbm, Isabella, was on Friday located in the North Atlantic Ocean, offshore Bahamas, after picking up a...

Samsung Heavy nets first LNG carrier order in 2025

Samsung Heavy said on Monday that it will build the LNG carrier for an unidentified owner in Oceania. The shipbuilder...

More News Like This

Samsung Heavy nets first LNG carrier order in 2025

Samsung Heavy said on Monday that it will build the LNG carrier for an unidentified owner in Oceania. The shipbuilder...

MOL and Jera pen new charter deal for newbuild LNG carrier

MOL said in a statement on Wednesday it has signed the long-term charter deal with a vessel operation management...

LNG carrier orders climb in 2024

The data shows there were at least 78 orders for large LNG carriers in 2024. This compares to about 68...

Japan’s NYK adds newbuild LNG carrier to its fleet

South Korea's Samsung Heavy Industries delivered the 174,000-cbm Quest Kirishima on Monday. NYK said the vessel will be deployed under...