Samsung Heavy Industries Books $226M VLGC Pair Order

Samsung Heavy Industries has signed a $226 million (KRW 307.4 billion) contract to build two very large gas carriers (VLGCs) for an undisclosed shipowner in Bermuda, according to a Korean stock exchange regulatory filing.

The contract was signed on September 29 and runs through February 28, 2030, with the end date based on the vessels' delivery date.

Payments will be made according to construction progress, with the contract including an advance payment.

The order represents 2.9% of Samsung Heavy Industries' $7.81 billion (KRW 10.65 trillion) in annual revenue based on its 2025 consolidated financial statements.

The dollar value is based on the KRW 1,360/$ exchange rate specified in the filing for the contract date.