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.)

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