Samsung Heavy Industries Wins KRW 444.5 Billion Container Ship Order
en.Wedoany.com Reported - On August 31, Samsung Heavy Industries announced that it had signed a contract with a shipowner in the African region to build two container ships, with a contract value of KRW 444.5 billion, approximately USD 323 million. The contract was actually signed on August 28, with the execution period extending until December 27, 2028, and the two vessels are scheduled for delivery before December 2028. This contract amount is equivalent to 4.2% of Samsung Heavy Industries' consolidated revenue of KRW 10.65 trillion for 2025.
According to the contract disclosure, the order includes advance payments and preliminary payments, with subsequent payments to be made based on the progress of ship construction; the contract completion date is based on the vessel delivery date and may be adjusted according to actual construction progress. Samsung Heavy Industries did not disclose the name of the ordering party, nor did it reveal the specific container capacity, propulsion configuration, or individual vessel delivery schedule for the two container ships.
Following the signing of this order, Samsung Heavy Industries' cumulative commercial vessel orders for 2026 increased to 36 vessels, worth USD 6.1 billion, reaching approximately 107% of its annual commercial vessel order target of USD 5.7 billion. By vessel type, the company has secured 14 LNG carriers this year, including 1 LNG-FSRU, as well as 2 ethane carriers, 4 gas carriers, 4 container ships, and 12 crude oil tankers. With the addition of these two new vessels, the company's container ship orders this year have increased from 2 to 4.
On August 3, Samsung Heavy Industries had just secured an order for two crude oil tankers from a European shipowner, with a contract value of KRW 268 billion, scheduled for delivery before August 2029. After that batch of orders was finalized, the company's cumulative commercial vessel orders had reached 34 vessels, worth USD 5.8 billion, surpassing the annual target of USD 5.7 billion for the first time; the container ship contract from the African shipowner has further increased the cumulative commercial vessel order value to USD 6.1 billion.
In addition to its commercial vessel business, Samsung Heavy Industries has also secured orders for two floating liquefied natural gas production, storage, and offloading units (FLNG) this year. Including offshore projects, the company's cumulative order value for 2026 has reached USD 10.5 billion, equivalent to approximately 76% of its overall annual order target of USD 13.9 billion; as of August 3, this figure stood at USD 10.2 billion, with a completion rate of 73%. The two container ship orders added within one month have increased the cumulative order value by approximately USD 300 million.
Samsung Heavy Industries stated that its current container ship orders are mainly concentrated in the 8,000 to 13,000 TEU class. With the annual commercial vessel order target already exceeded, the company will continue to screen subsequent commercial vessel orders based on profitability levels.
