Samsung Heavy Wins $1.22B Ship Order, Nears 2026 Target

Samsung Heavy Industries secured a 1.65 trillion-won ($1.22 billion) contract to build six vessels, lifting its shares more than 2% in a declining market and pushing its total 2026 orders to $11.7 billion, according to an Investing.com report.

Details of the Oceania Order

The new construction agreement covers four large liquefied natural gas carriers and two oil tankers. According to regulatory filings cited by Investing.com, the buyer was listed as an Oceania-based client, with no further identifying details disclosed by the shipbuilder.

Following the announcement, shares of Samsung Heavy advanced over 2%. The gain stood in contrast to the broader South Korean market, where the KOSPI index declined by 3% during the same trading session.

Progress Toward Annual Target

With the addition of the $1.22 billion contract, Samsung Heavy's cumulative orders for 2026 have reached $11.7 billion. This total accounts for 84% of the shipbuilder's full-year order target.

Earlier 2026 contracts contributing to that total include two floating liquefied natural gas production, storage and offloading facilities valued at a combined $4.4 billion.