Samsung Heavy wins contract to build three LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries said it would build three liquefied natural gas (LNG) carriers under a new deal revealed on Tuesday.

According to Samsung Heavy, the contract has a price tag of 826.3 billion won ($671 million) or about $223.5 million per vessel.

Also, the yard said it would build the LNG carriers for an owner based in Africa and deliver them by January 2026. The vessels probably have a capacity of 174,000 cbm.

Each of the vessels will feature GTT’s Mark III Flex containment system and WinGD’s X-DF engine.

Samsung Heavy did not provide any additional information.

One shipbuilding source said this order could be tied to Malaysia’s Petronas as the energy giant was looking to order LNG carriers at South Korean yards.

Brokers said after this announcement that South Korea’s H-Line Shipping had ordered these vessels on the back of a charter with Petronas.

Including this newest contract, Samsung Heavy secured orders for 17 ships worth about $2.9 billion this year.

The yard has set an order target of $8.8 billion this year.

In 2021, Samsung won orders worth $12.2 billion, surpassing its annual target of $9.1 billion by about $3.1 billion. This included orders for 22 LNG carriers.

(Article updated to say that H-Line Shipping ordered these vessels for Petronas charter.)

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