Samsung Heavy Industries receives $3 billion order for LNG carriers

Samsung Heavy Industries (SHI) has signed a KRW4.57 trillion ($3.4 billion) contract with a Middle Eastern shipowner to provide 15 LNG carriers with a length of 170,4000 cubic metres (m3) by October 2028.

The contract amount reportedly surpasses the company’s previous record for the largest single order of KRW3.95 trillion ($2.97 million) set by signing a newbuilding contract for 16 methanol-powered container ships in July 2023.

Samsung Heavy Industries’ cumulative contract performance this year has already surpassed 17 ships worth $3.7 billion in little over a month, accounting for over half of last year’s total of $8.3 billion.

An official from the company noted: “With this large-scale contract, the orientation towards profitability in selecting orders will gain momentum.”

In October 2023, Samsung Engineering Co., Ltd. (SECL) and Carbon Clean signed a Joint Development Agreement (JDA) to explore opportunities for Onboard Carbon Capture solutions (OCCS) projects.

One month later, SHI and DNV signed a Memorandum of Understanding (MoU) at KORMARINE, committing to the establishment of SHI’s cutting-edge Remote Operation Centre (ROC) for real-time monitoring and control of Maritime Autonomous Surface Ships (MASS).