Samsung Heavy Industries Secured LNG Carrier Order
The shipbuilder landed a $494 million contract for two vessels to be delivered to Kawasaki Kisen Kaisha by 2029.
Updated on Oct. 4, 2026 in Oil and Gas
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Samsung Heavy Industries has been commissioned by Kawasaki Kisen Kaisha to construct two new LNG carriers. The contract for the two ships is valued at $494 million.
Why it matters
Kawasaki Kisen Kaisha is leveraging these new builds to secure long-term contracts that expand its exposure to major energy companies and international LNG projects.
The order is valued at KRW 672.2 billion, or approximately $247 million per vessel. This deal contributes to Samsung Heavy Industries' total intake of $12.4 billion across 48 vessels and offshore units for 2026.
The players
Samsung Heavy Industries
This major South Korean shipbuilder is one of the world's largest manufacturers of commercial vessels and offshore platforms.
Kawasaki Kisen Kaisha
Also known as K Line, this major Japanese transportation company operates a global fleet of dry bulkers, tankers, and LNG carriers.
Mitsubishi Corporation
This Japanese conglomerate maintains a subsidiary, Diamond Global Energy, which manages LNG shipping interests and joint ventures.
The details
The vessels are being constructed through a joint venture model established for employment with Diamond Global Energy, a subsidiary of Mitsubishi Corporation. This order continues a series of recent ship-naming events at the yard involving Kawasaki Kisen Kaisha.
Timeline
May 2026: Kawasaki Kisen Kaisha named the Diamond Gas Jade.
September 2026: Kawasaki Kisen Kaisha named the Toho Emerald.
May 2029: The two new LNG carriers are scheduled for delivery.
Market Landscape
This order follows the precedent set by the naming of the Diamond Gas Jade and Toho Emerald, reflecting a sustained expansion in K Line's specialized energy transport fleet. The move reinforces Samsung Heavy Industries' competitive position as a leading provider of LNG carrier technology.
The expansion of specialized LNG transport fleets like those operated by K Line typically improves the efficiency and reliability of global energy supply chains. For customers and industrial partners, this infrastructure investment supports more stable long-term energy distribution.
The takeaway
The sustained demand for LNG carriers highlights the industry's focus on securing long-term energy contracts amidst global supply chain shifts. Shipbuilders like Samsung continue to prioritize high-value vessel production to maintain growth in the global commercial shipping market.
Further reading
For more information on the evolving energy shipping market, explore our Oil and Gas section.
Source note: This article includes information reported by Splash247.
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