On September 14, South Korean shipbuilder Samsung Heavy Industries announced contracts to build six new vessels across two types, with a total order value of 1.65 trillion won (approximately US$1.2 billion).
Specifically, Samsung Heavy Industries signed a contract with an Oceanian shipowner to build four 200,000 m³ class liquefied natural gas (LNG) carriers, valued at 1.37 trillion won (approximately US$1 billion). It also secured a contract for two crude oil tankers valued at 274.6 billion won (approximately US$200 million); given the unit price of around US$100 million, these are likely Suezmax tankers.
Samsung Heavy Industries stated that the LNG carriers ordered by the shipowner are not the conventional 174,000 m³ class vessels, but rather the larger 200,000 m³ class. The increased liquid cargo capacity means fewer voyages are required to transport the same volume of cargo, with the aim of improving operational efficiency per unit of cargo.
With the latest orders included, Samsung Heavy Industries has secured orders for 42 commercial vessels valued at US US$7.3 billion (approximately 9.82 trillion won) so far this year. This achievement represents approximately 128% of its annual commercial vessel order target of US$5.7 billion (approximately 7.67 trillion won) and surpasses the company’s total commercial vessel order value for the full year of 2025 (US$7.1 billion / approximately 9.55 trillion won).
By vessel type, the orders comprise 18 LNG carriers (including one LNG-FSRU), 14 crude oil tankers, four container ships, four gas carriers, and two ethane carriers.
In the offshore sector, Samsung Heavy Industries has secured orders for two Floating Liquefied Natural Gas (FLNG) units valued at US$4.4 billion (approximately 5.92 trillion won) this year, representing 54% of its annual offshore order target of US$8.2 billion (approximately 11.03 trillion won).
Overall, Samsung Heavy Industries has secured orders for 44 new vessels/units this year with a total value of approximately $11.7 billion (approximately 15.73 trillion won), reaching 84% of its annual order target of US$13.9 billion (approximately 18.70 trillion won).
A representative from Samsung Heavy Industries stated, “Securing these orders for large-scale LNG carriers reflects our response to shipowners’ needs for long-haul transport. Moving forward, we will continue to be selective in accepting orders, focusing on profitability while meeting customer needs and ensuring operational convenience.”
Newbuilding activity in the LNG carrier market has been gradually recovering this year. Data from Clarkson indicates that global shipowners ordered a total of 59 LNG carriers—with a combined cargo capacity of 9.7 million cubic meters—during the first half of 2026, a volume approaching the total level seen for the full year of 2025.
The market generally attributes the growth in LNG carrier orders to supply chain diversification aimed at ensuring stable energy supplies and to geopolitical tensions in the Middle East.