Order Overview
Japan’s Kawasaki Kisen Kaisha, Ltd. (K Line) has confirmed a contract with Samsung Heavy Industries (SHI) for two new LNG carriers. The vessels, each with a capacity of roughly 174,000 cubic metres, are priced at about $247 million per unit, bringing the total contract value to $494 million (KRW 672.2 billion). Delivery is scheduled for the end of May 2029.
Strategic Partner – Diamond Global Energy
Industry sources indicate the ships will be chartered to Diamond Global Energy, a subsidiary of Mitsubishi Corporation. This continues a growing partnership between K Line and Diamond Global Energy, which previously commissioned the 174,000 cu m Diamond Gas Jade from SHI for the LNG Canada project. The new pair will further cement K Line’s role as a primary carrier for Mitsubishi‑backed LNG initiatives.
Recent K Line LNG Activity
- May 2026: K Line named the 174,000 cu m Diamond Gas Jade, built jointly with a K Line‑Diamond Global Energy venture, due August 2026.
- September 2026: The 174,000 cu m Toho Emerald was launched, jointly owned with Toho LNG Shipping via T.K. LNG Shipping (Singapore). Delivery is expected in the current month for Toho Gas operations.
- Current: The newly ordered pair expands K Line’s LNG fleet at Samsung Heavy, reinforcing its strategic focus on long‑term, high‑volume contracts.
Samsung Heavy Industries’ LNG Momentum
Including the latest contract, SHI announced a record 20 LNG carrier orders for 2026, pushing its commercial order book to US$8 billion. When two floating LNG (FLNG) projects are added, the yard’s total intake reaches US$12.4 billion across 48 vessels and offshore units. The strong order flow reflects the global surge in LNG demand and the shipyard’s reputation for delivering ultra‑large carriers.
Implications for the Market
K Line has identified LNG transportation as a core growth pillar, aiming to secure further long‑term charters with major energy firms. The Samsung Heavy order not only expands the carrier pool for Mitsubishi’s North‑American projects but also positions K Line to meet the rising cargo volumes linked to new LNG supply chains in Europe and Asia.
Overall, the agreement underscores a deepening synergy between Japanese shipowners, Korean shipbuilders, and multinational energy corporations, a trend likely to shape the LNG shipping landscape through the late 2020s.