LNG carrier

Samsung Heavy kicks off 2023 with $2bln in FLNG and LNG carrier orders

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured a new order for the construction of two LNG carriers worth $500 million, which increased its earnings in orders to $2 billion in the first month of 2023.

Illustration; Archive; Courtesy of Samsung Heavy Industries

SHI received the order for two LNG carriers from an undisclosed Oceanian shipper on 31 January. According to its regulatory filing, the vessels are due for delivery in mid-January 2027.

Including a $1.5 billion order for a floating LNG facility secured earlier this month, SHI earned $2 billion in orders within a month, which is equivalent to one-fifth (21%) of its $9.5 billion target for this year.

The shipbuilder received orders of $12.2 billion and $9.4 billion respectively in 2021 and 2022, exceeding its target.

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“More than 70 LNG carriers are expected to be ordered this year, and eco-friendly ships as well to respond to environmental regulations. We will also focus more on the FLNG market with our unique competitiveness, and do our best to achieve the order target for the third consecutive year”, said an official at SHI.

To remind, in early January, a consortium of JGC Corporation and SHI won an engineering, procurement, construction and commissioning (EPCC) contract with Petronas for the first nearshore floating LNG facility project in Malaysia.

SHI will be responsible for the floating LNG hull EPC work and the modular fabrication of the topside.

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