Samsung Heavy wins $520 million order for two LNG carriers

SEOUL, January 02 (AJP) - Samsung Heavy Industries said on Friday it has secured an order worth 721.1 billion won ($520 million) for two liquefied natural gas carriers.

In a regulatory filing, the company said the contract was signed in December and that the vessels are scheduled for delivery in stages by September 2028.

The name of the shipowner was not disclosed due to contractual confidentiality requirements, a common practice in shipbuilding deals involving commercial and strategic considerations.

With the latest deal, Samsung Heavy said it booked total orders worth $7.9 billion for 43 vessels in 2025, surpassing its 2024 results of $7.3 billion for 36 ships.

Orders last year included 11 LNG carriers, nine shuttle tankers, nine container ships, two ethane carriers, 11 crude oil carriers and a preliminary contract for offshore production facilities, the company said. As of the end of 2025, Samsung Heavy’s order backlog stood at 133 ships valued at $28.6 billion.

A company official said Samsung Heavy exceeded the previous year’s order performance by prioritizing profitability and selectively accepting contracts, supported by a stable backlog, despite a volatile global business environment marked by U.S.-led trade tariff pressures.

The official added that the company expects solid order momentum to continue this year, citing a recovery in demand for LNG carriers.