Samsung Heavy Exceeds LNG Carrier Target

Samsung Heavy Industries has surpassed its commercial vessel order target by 40% for the year, according to a statement made on October 2. The company anticipates delivering these vessels by May 2029. This year, Samsung Heavy Industries has ordered a total of 20 LNG carriers, including one LNG-FSRU, bringing the company's order performance to $8 billion, exceeding the initial target of $5.7 billion.

The primary factor behind this surge in orders is the robust construction infrastructure at Samsung Heavy Industries' Geoje Shipyard. The yard's No. 3 dock, with dimensions of 640 meters in length and 97.5 meters in width, is capable of constructing four large LNG carriers at once, a unique advantage that ensures timely delivery even in the face of large-scale orders.

Additionally, the introduction of a smart shipyard, integrating digital, artificial intelligence, and robot technologies, is boosting production efficiency. In July, Samsung Heavy Industries announced a $7.69 billion investment in the Geoje workplace to establish a construction base for high-value-added vessels and offshore infrastructure.

This substantial investment is expected to further accelerate the transition to a smart shipyard. Across various vessel types, Samsung Heavy Industries received orders for 46 commercial vessels this year, comprising 2 ethane carriers, 6 gas carriers, 4 container ships, and 14 crude oil carriers. Including 2 FLNG units in the offshore sector, the total order volume stands at 48 vessels and $12.4 billion, representing 89% of the integrated order target of $13.9 billion.

A Samsung Heavy Industries representative noted that the company plays a pivotal role in the global LNG value chain, including LNG carriers and FLNG, and plans to continue reinforcing its market leadership through its unique technological and construction capabilities.