Story
Samsung Heavy Industries Secures $1.22 Billion Order for LNG Carriers and Tankers
Samsung Heavy Industries Co. has secured a major new contract valued at 1.65 trillion won ($1.22 billion) to construct four large liquefied natural gas (LNG) carriers and two oil tankers. The announcement, made in a regulatory filing on Monday, sent the company's shares up more than 2% in an otherwise declining market.
Contract Details
According to the filing, the order was placed by an undisclosed client based in the Oceania region. The contract specifies the construction of four large-scale LNG carriers, a segment seeing high demand, along with two crude oil tankers.
This agreement is a significant addition to the shipbuilder's portfolio, reinforcing its position in the global market for high-value vessels, particularly those used for energy transportation.
AdOrder Book and Market Performance
The new deal boosts Samsung Heavy's total orders for 2026 to $11.7 billion, bringing the company to 84% of its full-year target. This year's order book already includes two floating liquefied natural gas (FLNG) production facilities, which alone are worth a combined $4.4 billion.
On Monday, shares of Samsung Heavy Industries bucked the market trend, rising over 2% on the news. The company's performance stood in sharp contrast to the broader South Korean market, with the benchmark KOSPI index falling 3% during the same session.
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