Korean shipbuilders witness LNG carrier order surge

South Korean shipbuilders Korea Shipbuilding & Offshore Engineering and Samsung Heavy Industries have won orders for a total of seven new LNG carriers.

Korean shipbuilders witness LNG carriers order surge
Illustration. Courtesy of HSHI

On 17 May, KSOE said it won a $910 million (1.17 trillion KRW) order to construct four new LNG carriers. Specifically, its units Hyundai Heavy Industries and Hyundai Samho Heavy Industries will each build two 174,000 cbm ships.

The shipyards will deliver the four LNG carriers to an undisclosed Asian shipowner in March and August of 2025.

KSOE and its affiliates won orders for 95 ships this year, which is worth $11.18 billion. Therefore, it has achieved 64.1 per cent of its $17.44 billion yearly target.

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On the other hand, Samsung Heavy Industries also informed it won a $671 million (862.3 billion KRW) order to build three LNG carriers for an African shipper. The shipyard will deliver these vessels in January 2026.

SHI said the vessels will have equipment such as a membrane-type storage tank and a duel fuel gas engine.

With this latest one, Samsung Heavy has scored orders for 17 ships worth $2.9 billion so far this year. This is 33 per cent of its yearly order target, Yonhap News Agency reported.