South Korean shipbuilder Samsung Heavy Industries has secured a KRW 444.5bn ($323.1m) contract to build two containerships for an undisclosed African shipowner, lifting its 2026 commercial vessel orders above its full-year target, according to a regulatory filing by Samsung Heavy Industries.
The contract was signed on 28 August and runs until 27 December 2028. The completion date is linked to delivery of the vessels and may change depending on construction progress.
The deal is equivalent to 4.2% of Samsung Heavy Industries’ KRW 10.65trn ($7.74bn) consolidated revenue for 2025.
The contract includes down and advance payments, with further instalments tied to construction progress.
The latest order takes the shipbuilder’s commercial vessel tally for 2026 to 36 ships worth $6.1bn, equivalent to about 107% of its $5.7bn annual target. The total comprises 14 LNG carriers, including one LNG floating storage and regasification unit, two ethane carriers, four gas carriers, four containerships and 12 crude oil tankers.
Including two floating LNG production, storage and offloading units, Samsung Heavy Industries has secured total orders worth $10.5bn this year, representing 76% of its $13.9bn annual target.
The company had already moved above its commercial vessel order target earlier in August after securing two crude oil tankers from a European shipowner.
Established in 1974, Samsung Heavy Industries is a South Korean shipbuilding and offshore engineering company active in the construction of LNG carriers, containerships, crude oil tankers and offshore facilities.