Samsung Heavy Industries bags $446 million order for LNG carrier pair

South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for the construction of two liquefied natural gas (LNG) carriers.

The company behind the order is an undisclosed shipowner based in Africa, according to a stock exchange filing.

The value of the contract is 589.7 billion won ($446 million). The two LNG carriers are slated for delivery by March 2026.

Other details of the contract were not revealed.

With this deal, SHI has managed to fulfill 89% of its annual $8.8 billion target of $8.8 billion. So far, the shipbuilder increased its cumulative order receipts to 41 ships which are worth around $7.8 billion.

Only in June this year, SHI succeeded in signing a $3 billion order worth of orders for 14 LNG carriers. The contracts were inked with undisclosed shipowners from Bermuda and Africa.

Last month, the South Korean company delivered newbuild liquefied natural gas (LNG) carrier to Greek shipping company Minerva. The vessel Minerva Amorgos is a 174,000 m3 LNG carrier which features WinGD XDF propulsion, Mark III Flex+ containment system and Airliquide subcooler system.