South Korea's Samsung Heavy Industries Wins Order for 4 LNG Carriers Worth Approximately USD 1.05 Billion

en.Wedoany.com Reported - On September 14, South Korea's Samsung Heavy Industries disclosed that it had signed a construction contract with a shipowner in the Oceania region for 4 liquefied natural gas (LNG) carriers, with a total contract value of approximately KRW 1.4078 trillion, equivalent to approximately USD 1.05 billion. The contract execution period runs from September 11, 2026 to September 28, 2029, during which all 4 new vessels will be completed and delivered successively. Based on the total contract value, the average contract value per vessel is approximately KRW 351.9 billion.

This batch of orders corresponds to large LNG carriers. Public project information shows that the cargo capacity per vessel is approximately 200,000 cubic meters, higher than the 174,000 cubic meter-class LNG carriers more commonly found on the current market. All 4 vessels are scheduled for delivery by the end of September 2029. The contract has entered the formal execution stage, and detailed design, equipment procurement, hull construction, outfitting, sea trials, and delivery will be advanced in sequence.

In Samsung Heavy Industries' formal contract disclosure, the buyer is listed only as a "shipowner in the Oceania region," with no specific company name disclosed. Existing shipping market information links this order to Dynagas, owned by Greek shipowner George Procopiou, but this identity has not yet been confirmed by Samsung Heavy Industries' formal disclosure. Therefore, the buyer shall still be based on the wording of Samsung Heavy Industries' announcement.

Dynagas has continued to expand its large LNG carrier capacity in recent years. Its affiliated companies have previously advanced the construction of multiple approximately 200,000 cubic meter-class LNG carriers and supported newbuilding plans through ship financing arrangements. If these 4 vessels are ultimately confirmed to be included in its fleet, it will further increase its reserve of 200,000 cubic meter-class LNG carriers.

Samsung Heavy Industries' LNG carrier order this time is being advanced together with 2 additional crude oil carrier contracts newly added during the same period. Since 2026, the company has continued to focus on high-value-added commercial vessels such as LNG carriers and oil tankers as its main order-taking direction. This batch of 4 LNG carriers will further increase its backlog of vessel construction tasks before 2029.