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Samsung Heavy Industries bags $3bn in LNG carrier ordersSamsung Heavy Industries bags $3bn in LNG carrier orders

South Korean shipbuilder Samsung Heavy Industries (SHi) has announced it has received orders totalling $3bn for 14 LNG carriers to be delivered in 2024 and 2026, the largest single order in its history.

Michele Labrut, Americas Correspondent

June 24, 2022

1 Min Read
LNG carrier in Johor Strait near MMHE
LNG carrier in Johor Strait near MMHEPhoto: John Foreman

The larger of the two orders was identified as being with a Bermuda-based company and it covers a total of 12 LNG carriers each with a capacity of 174,000 cu m. The contract, which is due to be completed in July 2026, was valued at $2.57bn, or a cost of approximately $208m each.

The second order was for two LNG carriers and identified as being for an African company operating in Africa. Those vessels are due for delivery at the end of 2024 and are valued at a higher price of $212m per vessel.  

Samsung had previously set a record with an order for 20 containerships received in March 2021. That contract was valued at $2.2bn.

The Korean shipbuilding company reported with these latest orders it has won orders totalling $6.3bn for 33 ships so far in 2022

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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