On September 30, South Korean shipbuilder Samsung Heavy Industries announced a contract with a Bermuda-based shipowner to build two Very Large Gas Carriers (VLGCs). The order is valued at 307.4 billion KRW (approximately $220 million), with a unit price of around $110 million, and delivery is scheduled for completion by February 2030.
Including the latest orders, Samsung Heavy Industries has secured orders for 44 new commercial vessels this year (28 in the first half and 16 in the second half), valued at $7.5 billion, achieving approximately 132 percent of its annual commercial vessel order target of $5.7 billion.
By vessel type, the orders include 18 liquefied natural gas (LNG) carriers (including 1 LNG-FSRU), 14 crude oil tankers, 4 container ships, 6 gas carriers, and 2 ethane carriers.
In the offshore engineering sector, Samsung Heavy Industries has secured orders this year for two floating liquefied natural gas (FLNG) production units worth $4.4 billion, representing 54% of its annual offshore engineering order target of $8.2 billion.
Overall, Samsung Heavy Industries has secured orders for 46 new vessels this year, with a total value of approximately $11.9 billion, achieving 86 percent of its annual order target of $13.9 billion.
A Samsung Heavy Industries spokesperson stated, “As global energy market conditions evolve and the industry shifts toward eco-friendly vessels, customer demand for shipbuilding is becoming increasingly diverse. We will actively respond to customer needs by leveraging our extensive experience in building various types of vessels and our competitive edge in environmental technologies.”