[Yonhap New Agency/ February 6, 2024] Samsung Heavy Industries has won a big deal to manufacture a fleet of high-value ships, liquefied natural gas (LNG) carriers. The contract, valued at an impressive KRW 4.6 trillion, represents a significant milestone for the renowned shipbuilding company.

On the 6th of this month, Samsung Heavy Industries announced the signing of a construction agreement for 15 LNG carriers with esteemed ship owners based in the Middle East. The cumulative worth of these contracts stands at a remarkable KRW 4.5716 trillion, shattering previous records set by the company.

This deal, hailed as the largest in Samsung Heavy Industries' history, surpasses its previous pinnacle achieved last year. Scheduled for delivery to the Middle Eastern clients in a phased manner by October 2028, the agreement signifies a substantial leap forward for the company's portfolio.

While specific details regarding the contract remain undisclosed, industry experts speculate a potential connection to Qatar's ambitious LNG carrier order project, drawing inference from industry discourse and international media coverage.

This significant achievement propels Samsung Heavy Industries' total orders for this year to 17 ships, amounting to a staggering USD 3.7 billion. Such a substantial influx of orders accounts for nearly half of the company's total sales recorded last year, which amounted to USD 8.3 billion.

Samsung Heavy Industries has announced that their backlog of orders for LNG carriers, considered high value-added ships, stands at around 90 vessels. This significant number of pending orders is anticipated to positively influence the company's future performance.

Commenting on the development, an official from Samsung Heavy Industries stated, "This substantial order underscores our expertise and positions us favorably for future profitability-driven endeavors."

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