Gas Carrier Contract
Samsung Heavy Industries secures $227 million contract to build two gas carriers.
Anonymous
Key Points
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Samsung Heavy Industries signed the contract on September 29. Its value is equivalent to 2.9% of the company’s consolidated 2025 revenue, and the filing noted that the delivery schedule could change depending on construction progress.
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The company secured 28 commercial vessels in the first half of the year and 16 in the second half.
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A Samsung Heavy Industries official said the company would respond to customer demand by drawing on its experience across vessel types and its competitive position in eco-friendly technology.
Samsung Heavy Industries has won a $227 million contract to build two very large gas carriers for a Bermuda-based shipowner, Hellenic Shipping News reported. The vessels will be delivered by February 2030. This order pushes Samsung Heavy's 2025 commercial vessel intake to 44 ships worth $7.5 billion — 132% of its annual target.
The shipbuilder signed the contract on September 29. Combined with two floating LNG production facilities worth $4.4 billion, Samsung Heavy's total shipbuilding and offshore orders now stand at $11.9 billion, or 86% of its overall annual goal. The company's order mix includes 18 LNG carriers, 14 crude oil tankers, six gas carriers, four container ships, and two ethane carriers, SE Daily reported.
Samsung Heavy Crushes 2025 Shipbuilding Targets
Samsung Heavy has already exceeded its annual commercial vessel goal halfway through 2025. The company logged 28 orders in the first half and 16 in the second half. At 132% of target, the $7.5 billion intake signals strong global demand for specialized cargo ships and offshore platforms. Tiprancks confirmed that Samsung Heavy is a leading South Korean builder of large commercial vessels.
LNG Carriers Drive Samsung Heavy's Order Books
Liquefied natural gas carriers have become Samsung Heavy's biggest growth driver. The company has now secured 20 LNG carrier orders this year, Chosun Biz reported. These vessels are crucial for global energy trade and command premium prices. The remaining order portfolio — tankers, gas carriers, and container ships — reflects diversification across cargo types.
Eco-Friendly Technology Strengthens Competitive Edge
Samsung Heavy attributes its success to experience across vessel types and leadership in eco-friendly technology. A company official said the builder would continue drawing on these strengths to meet customer demand. The two new gas carriers will feature advanced environmental compliance systems, important as global shipping faces tighter emissions rules.
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