Samsung Heavy Industries Secured $494M LNG Carrier Order
The deal signals continued demand for specialized transport as energy firms lock in long-term shipping capacity through 2029.
Updated on Oct. 4, 2026 in Oil and Gas
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Kawasaki Kisen Kaisha has ordered two new LNG carriers from Samsung Heavy Industries in a deal valued at $494 million. The contract expands the shipowner's fleet as it pursues long-term agreements with global energy majors.
Why it matters
The order reflects a broader industry strategy to secure reliable transport for LNG projects through multi-year charters. By anchoring these assets with major energy companies, shipowners insulate their operations against volatile spot market shipping rates.
Samsung Heavy Industries has secured 20 LNG carrier orders in 2026, contributing to a total intake of $12.4 billion across 48 vessels. The new units are priced at approximately $247 million each, with delivery set for 2029.
The players
Samsung Heavy Industries
A major South Korean shipbuilder and global leader in the construction of high-value LNG carriers and offshore units.
Kawasaki Kisen Kaisha
A Japanese maritime transport company operating a diversified global fleet including dry bulkers, car carriers, and energy vessels.
Mitsubishi Corporation
A Japanese integrated trading and investment conglomerate with extensive interests in global energy infrastructure and logistics.
The details
The vessels are being constructed through a joint venture model involving a subsidiary of Mitsubishi Corporation, Diamond Global Energy. This structure allows the shipowner to distribute financial risk while ensuring steady utilization for high-capacity energy transport. Samsung Heavy Industries remains a dominant fabricator, maintaining significant order volume in the specialized LNG sector.
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 pattern set by the naming of the Diamond Gas Jade in May 2026, marking a continued expansion of the owner's specialized energy fleet. It reinforces the prevailing industry trend of leveraging joint venture structures to back long-term capital investments in shipping.
Operators should monitor long-term charter availability as shipowners continue to commit heavy capital to 2029-horizon assets. Rising shipyard backlogs may increase lead times and procurement costs for firms looking to expand their own energy-related logistics capabilities.
The takeaway
The sustained investment in LNG carriers highlights the long-term value placed on reliable energy transit infrastructure. Business leaders should track the delivery schedules of new-build fleets as a proxy for long-term capacity expectations in the energy sector.
Further reading
For more on industry infrastructure developments, see the Oil and Gas section.
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