Aju Business Daily

SEOUL -- Samsung Heavy Industries, one of South Korea's three major shipbuilders, has won a $1.5 billion order from an unidentified Eurasian client to build a liquefied natural gas (LNG) carrier. The order helped the shipbuilder achieve 88 percent of this year's target set at $7.8 billion.

The conditional contract is due in September 2022, Samsung Heavy said Monday, adding details would not be disclosed under an agreement with the client. "This contract is conditional, so if the contract is confirmed or changed, we will re-disclosure details," the shipbuilder said in a regulatory filing.

Samsung Heavy said that its accumulated order so far this year stood at $6.9 billion. South Korean shipbuilders have stepped up efforts to secure a competitive edge in the construction of LNG-powered vessels or LNG carriers. They bagged orders to build 60 LNG carriers in 2018. South Korea's shipbuilding industry anticipates a business recovery on solid demand for LNG carriers.