Samsung Heavy Industries has secured a new order for five vessels from a Bermuda-based shipowner, with the contract valued at 1.0018 trillion won, or about $667 million.
The shipbuilding package, announced on 27 May, covers three vessel types. It includes one LNG carrier, two VLGCs and two crude oil tankers. All five vessels are scheduled for delivery by October 2028.
Samsung Heavy Industries did not identify the customer. However, market sources linked the order to JPMorgan Chase. According to the same information, JPMorgan Chase has ordered 12 newbuildings from Samsung Heavy Industries so far this year, worth about $1.66 billion. The total includes three LNG carriers, four VLGCs and five crude oil tankers.
Based on earlier disclosed contracts, the estimated unit prices are about $250 million for an LNG carrier, $113.5 million for a VLGC and $90 million for a crude oil tanker.
The latest contract adds to Samsung Heavy Industries’ strong run in the gas carrier market this month. Other recent orders include three LNG carriers from Seapeak, two LNG carriers from TMS Cardiff Gas, and one 170,000 cbm LNG-FSRU from MISC.
Including the latest deal, Samsung Heavy Industries has won 27 vessels worth about $5.4 billion so far this year. This equals 38.8% of its annual order target of $13.9 billion and 68.4% of its 2025 annual target of $7.9 billion.
By vessel type, the year-to-date orderbook consists of 12 LNG carriers, one LNG-FSRU, two ethane carriers, four gas carriers, two container ships and six crude oil tankers.
A Samsung Heavy Industries representative said it is uncommon for one shipowner to order several vessel types from a single yard at the same time. The representative added that high-value vessels support profitability, while conventional ships help improve production stability and efficiency.
