Samsung Heavy Industries announced its first newbuilding orders for 2026, including five vessels with a total value of approximately $900 million.
On January 28, Samsung Heavy Industries announced via its official website that it had recently secured orders for five vessels worth 1.2692 trillion won (approximately $900 million), primarily consisting of gas carriers and crude oil tankers.
Specifically, Samsung Heavy Industries signed a contract with a Bermuda-based shipowner to build two liquefied natural gas (LNG) carriers, with a total value of approximately 727.2 billion won (approximately $500 million); It also signed a contract with an Asian shipowner for the construction of two Very Large Ethane Carriers (VLECs), valued at approximately 430.9 billion won (approximately $300 million); and a contract with a Liberian shipowner for the construction of one crude oil carrier, valued at approximately 142.5 billion won (approximately $100 million).
These are the first new vessels Samsung Heavy Industries signed in 2026. Although the company announced the signing of two LNG carriers on January 3, the contract was actually signed on December 31, 2025, and thus falls under the 2025 order data.
It is understood that the two new VLECs to be built by Samsung Heavy Industries were ordered by Japanese shipowner Mitsui O.S.K. Lines (MOL). On the same day (the 28th), the shipowner announced an order for two 100,000 cbm VLECs from Samsung Heavy Industries, with delivery expected in late 2028 and beyond.
According to MOL, this VLEC has an overall length of 230 meters, a beam of 36.6 meters, and a full load draft of 11.9 meters. It will be equipped with GTT’s Mark III membrane containment system and dual-fuel main engines capable of using ethane as fuel. Upon delivery, it will transport liquefied ethane from the United States to India. Both VLECs have been contracted under 15-year long-term charter agreements with India’s state-owned Oil and Natural Gas Corporation (ONGC).
A Samsung Heavy Industries spokesperson stated: “This new order portfolio not only includes our flagship LNG carrier designs but also diversifies our order mix through the addition of VLEC and crude oil carriers… With sustained strong demand for LNG carriers through 2026 and two FLNG orders nearing finalization, we will continue implementing a selective order strategy focused on profitability.”
As of January 28, 2026, Samsung Heavy Industries’ order backlog has reached 134 vessels, with a total value of 40.9233 trillion won (US$28.7 billion).