Samsung Heavy Industries Co., the world's third-largest shipbuilder by orders, announced on Tuesday that it has secured a 466 billion-won (US$322 million) contract to construct two very large ethane carriers (VLECs) for an unidentified Asian shipper.
The company plans to deliver the high-end VLECs by February 2028, according to a press release.
This latest contract brings Samsung Heavy's total orders for the year to approximately 1.9 billion, representing 19 percent of its annual order target of 1.9billion.
As of the end of February, the company had an order backlog of $30.5 billion, ensuring that its Geoje-based shipyard, located about 330 kilometers south of Seoul, will remain active for the next three years.
Samsung Heavy Industries Co. is a leading global shipbuilder based in South Korea, specializing in the construction of high-end vessels, including LNG carriers and offshore platforms.