SEOUL - Samsung Heavy Industries, a major South Korean shipbuilder, has announced a significant contract win worth 1.4 trillion won (approximately US$1 billion) for the construction of four liquefied natural gas (LNG) carriers.
According to Yonhap News Agency, the ships, commissioned by an unnamed Middle Eastern shipping firm, are scheduled for delivery by August 2028. This latest contract contributes to Samsung Heavy Industries' impressive year, with the company securing orders valued at $4.9 billion so far, representing 51 percent of its 2024 target of $9.7 billion. The orders include 19 LNG carriers, two very large ammonia carriers, and one shuttle tanker.
Samsung Heavy Industries is a key subsidiary of the Samsung Group, South Korea's largest chaebol, with Samsung Electronics Co. as its flagship company.