Two well-known names in LNG shipping have been linked to new orders at Samsung Heavy Industries, as newbuilding activity in the gas carrier segment shows signs of life.
The South Korean yard confirmed this week that it had secured contracts for six 174,000 cu m vessels worth around $1.5 billion. While the owners were not publicly disclosed, industry and vessel sources have connected the orders to Greece’s TMS Cardiff Gas and Denmark’s Celsius Shipping.
TMS Cardiff, led by George Economou, is understood to have signed for four vessels at a price of approximately $250 million each. The ships are scheduled for delivery in late 2028.
In a separate announcement, Samsung Heavy revealed two additional LNG carriers contracted by another unidentified buyer. Newbuilding sources have linked this order to Jeppe Jensen’s Celsius Shipping, with delivery scheduled for the first quarter of 2028.
TMS Cardiff Gas remains an active player in the gas carrier market, with a growing presence in the LNG and LPG segments. Celsius, for its part, operates a fleet of 21 LNG carriers, nine of which are still under construction, according to the company’s website. Both companies have previously booked newbuilds at Samsung Heavy.
The latest orders at Samsung Heavy help bolster a sparse LNG orderbook so far this year, with wider newbuilding construction activity also subdued in other segments, including dry bulk and tankers. According to Xclusiv Shipbrokers, only 23 LNG vessels have been ordered globally until the end of July 2025, a notable drop from previous years.
Adis is an experienced news reporter with expertise in finance, media, and education. He has written across the spectrum of the energy and offshore ocean industries for many years and is a member of the International Federation of Journalists. He had previously written for titles from the Navingo Media Group, including Offshore Energy, Subsea World News, and Marine Energy.
August 20, 2025
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