Samsung Heavy wins over 1 trillion won worth of orders from Bermuda-based company

SEOUL : Samsung Heavy Industries secured orders worth over 1 trillion won ($665 million) for five vessels from a Bermuda-based shipping company, the Korean shipbuilder said Wednesday.

The package order includes one liquefied natural gas (LNG) carrier, two very large gas carriers and two crude oil tankers, all commissioned by the same shipowner. The company did not disclose the name of the shipowner.

The deal brings Samsung Heavy Industries’ cumulative orders this year to 27 vessels: 13 LNG carriers, two ethane carriers, four gas carriers, two container ships and six crude oil tankers.

The company has been diversifying its portfolio with a focus on LNG carriers, which are considered among the industry’s highest value-added vessels. Samsung Heavy Industries’ cumulative order value for this year has now reached $5.4 billion, achieving 38.8 percent of its annual order target of $13.9 billion. The figure also amounts to 68.4 percent of the company’s total orders last year, which stood at $7.9 billion.

“It is unusual for a shipowner to place simultaneous orders for multiple types of vessels with a single shipbuilder,” a Samsung Heavy Industries spokesperson said. “High value-added vessels will improve profitability, while standard vessel types will help maximize production stability and efficiency.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.