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South Korea’s Samsung Heavy to build another LNG carrier quartet

By LNG Prime Staff
South Korea’s Samsung Heavy to build another LNG carrier quartet
For illustration only (Image: Samsung Heavy Industries)

South Korean shipbuilder Samsung Heavy Industries will build four new liquefied natural gas (LNG) carriers as part of a deal revealed on Monday.

Samsung Heavy said in a stock exchange filing it would build the vessels for a Bermuda-based owner.

Moreover, the contract has a price tag of 971.3 billion won ($825 million), the shipbuilder said. This means the owner would pay about $206 million per vessel, the highest since 2015, Samsung said.

The yard added it would deliver the ships by the end of 2024, but it did not reveal any additional information regarding the contract.

Including the newest contract, the shipbuilder won orders worth $11.2 billion so far this year, surpassing its annual target of $9.1 billion.

One shipbuilding source told LNG Prime that J.P. Morgan could be behind this order for four new carriers.

Samsung Heavy recently won an order for four LNG carriers that will serve Novatek’s Arctic LNG projects.

Sovcomflot and NYK ordered these 174,000-cbm LNG carriers and signed long-term charter deals with Novatek. These vessels have a price tag of about $809.2 million.

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