Samsung Heavy Industries Secures Order for 4 LNG Carriers Worth 815 Billion KRW

[Asia Economy Reporter Park Soyeon] Samsung Heavy Industries announced on the 23rd that it has secured an order for four LNG (liquefied natural gas) carriers worth a total of 815 billion KRW from a shipowner in the Africa region. These vessels are scheduled to be delivered sequentially by May 2024 upon contract activation.

Samsung Heavy Industries demonstrated strong momentum by securing a total of eight LNG carriers over three days starting from the 21st, successfully increasing its cumulative order backlog for this year to 5.5 billion USD. As a result, Samsung Heavy Industries has reached about 65% of its annual order target of 8.4 billion USD.

The order backlog has also significantly increased. At the beginning of this year, Samsung Heavy Industries’ order backlog had fallen to 18.6 billion USD by the end of August due to market stagnation caused by the COVID-19 pandemic and low oil prices. However, thanks to the year-end 'order rally,' it has now grown to 22.2 billion USD as of the current date.

Notably, LNG carriers account for nearly half (10.4 billion USD) of the total order backlog, which is also positively evaluated from a profitability perspective.

A Samsung Heavy Industries official stated, "With global environmental regulations, especially greenhouse gas emission regulations, being strengthened, we expect an increase in ship orders driven by rising LNG demand." He emphasized, "We will continue to lead the market through innovative technology development and new product launches related to LNG."

This content was produced with the assistance of AI translation services.