Korean shipbuilding conglomerate Samsung Heavy Industries has signed a contract with an unnamed Middle East shipowner for building fifteen 174,000 m3 LNG carriers.

The fifteen LNG Carriers to be delivered to the shipowner by October 2028 and the contract value of KRW 4.57 trillion (about $3.44bn) is a new contract record for Samsung Heavy Industries on a single deal.

It is mentioned that the previous record for the largest single order of KRW 3.95 trillion (about $2.98bn) was set by signing a newbuilding contract for 16 methanol-powered container ships last July.

So far Samsung Heavy Industries in 2024 has signed contracts for building seventeen ships, being fifteen LNG carriers and two VLACs’, amounting to $3.7bn in just over a month.

The shipbuilder informs its order backlog for high-value LNG carriers is now at a total of 90 ships.

“With this large-scale contract, the orientation towards profitability in selecting orders will gain momentum,” says a Samsung Heavy Industries official.