SHI wins $3 billion order for 14 LNG carriers

In a single day, South Korean shipbuilder Samsung Heavy Industries (SHI) received orders for the construction of a total of fourteen liquefied natural gas (LNG) carriers.

Illustration. Courtesy of SHI

On 21 June 2022, SHI won an order from an undisclosed Bermuda-based shipowner for twelve LNG carriers.

The order has a value of KRW 3.33 trillion (about $2.5 billion), according to a stock exchange filing.

As informed, the 174,000 cubic metre ships will be delivered to their owner by mid-July 2026.

What is more, Samsung Heavy Industries signed a shipbuilding contract for the construction of two LNG carriers for an African shipowner.

The deal is worth KRW 554 million ($424 thousand) and the newbuilds are slated for delivery by the end of 2024, SHI revealed in a separate stock exchange filing.

It is not clear whether the recent orders are linked to the Qatari LNG expansion project. As part of this project, Qatar signed in 2020 agreements with SHI and two other Korean shipbuilders to reserve LNG carrier construction capacity.

Following the latest deal, Samsung Heavy’s order book for 2022 increased to 33 vessels, representing 72 per cent of its annual order target.

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