Samsung Heavy bags order for LNG carrier quartet

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured a contract for the construction of four liquefied natural gas (LNG) carriers.

The order has been placed by an undisclosed shipowner from the Bermuda region. The price tag for the contract is KRW 971.3 billion (around $825 million), the shipbuilder revealed in its stock exchange filing.

The company added that the ships are scheduled for delivery by the end of 2024, but did not disclose any further information.

Last week, the shipyard scored an order for a new series of four LNG carriers from Danish shipowner Celsius Tankers.

The four new vessels will enter into long-term time charters with Singapore-based Clearlake Shipping, a subsidiary of Gunvor. The vessels’ design is expected to minimize CO2 emissions and methane slip from operations. In addition, it will fall under Lloyds’ Register class notation EEDI-3.

What is more, the firm has been in talks with Russian contractors to build icebreaking LNG carriers. The negotiations concern building the vessels that would transport the LNG produced in northern Siberia.

With the latest deals on the table, the South Korean shipyard has won orders worth $11.2 billion, surpassing its annual target of $9.1 billion.