Samsung Heavy wins order $512 mn for two LNG carriers

South Korea's shipbuilder Samsung Heavy Industries announced on Monday that it had won a contract worth 674.5 billion won ($512.3 million) to build two liquefied natural gas (LNG) carriers from an Asia-Pacific shipping company.

The ships are scheduled to be delivered sequentially to the shipowner by Nov. 2026.

With this deal, the company has surpassed $2.5 billion in cumulative orders for the first quarter of this year.

It has won orders for four LNG carriers and one floating liquefied natural gas (FLNG) production facility, filling 26% of its annual target of $9.5 billion.

The price of high-value LNG carriers has exceeded $250 million per vessel as of the end of February, a 33% increase in price over the past two years.

"As the boom in LNG carriers, our main shipbuilding item, continues this year, we expect to reach our target order volume for three consecutive years," said a Samsung Heavy Industries official.

Write to Jae-Fu Kim at hu@hankyung.com