Samsung Heavy Industries wins 12-vessel LNG carrier contract

June 23, 2022

A Bermuda-based shipowner has awarded Samsung Heavy Industries a contract for twelve 174,000-cu m LNG carriers to be delivered by mid-July 2026. SHI will also supply two newbuild carriers to an African shipowner by end-2024.

Christopher E. Smith

A Bermuda-based shipowner has awarded Samsung Heavy Industries (SHI) a contract for twelve 174,000-cu m LNG carriers to be delivered by mid-July 2026. SHI will also supply two newbuild carriers to an African shipowner by end-2024.

The newest deals brought SHI’s 2022 order book to 33 vessels, 72% of its target for the year. Twenty-four of these vessels are LNG carriers.

The 12-vessel order is worth 3.33 trillion Korean won (about $2.5 billion). The two-ship order is worth 554 billion won.

Teekay LNG Partners LP, Golar LNG Partners LP, and GasLog LNG Services Ltd. are among the LNG-focused shipowners based in Bermuda.

About the Author

Christopher E. Smith | Editor in Chief

Christopher brings 27 years of experience in a variety of oil and gas industry analysis and reporting roles to his work as Editor-in-Chief, specializing for the last 15 of them in midstream and transportation sectors.