Dynagas has placed an order for four liquefied natural gas (LNG) carriers worth nearly $1 billion at Samsung Heavy Industries. This contract includes four tankers with a capacity of 200,000 cubic meters, which are set to be delivered by September 2029. These vessels are significantly larger than the 174,000 cubic meter designs that dominate the LNG tanker fleet.
Contract Details and Shift in Construction Trend
Samsung Heavy announced this contract on Monday, referring to an unknown owner in the Pacific region. Greek market sources then identified Dynagas as the company that made this order. This contract represents a shift in the construction trend for Dynagas's large LNG program. Previously, the company's new 200,000 cubic meter tankers were mostly built at HD Hyundai Heavy Industries, which includes five ships that were financed through a sale and leaseback deal worth $1.1 billion with CMB Financial Leasing under the control of George Procopiou.
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Expansion of Procopiou's Activities and Economic Impacts
This new move comes as construction activities at companies controlled by Procopiou are on the rise. Dynacom returned to HD Hyundai Heavy Industries earlier this month and placed another order for eight new ships, including six 93,000 cubic meter ammonia carriers and two VLCC tankers worth nearly $1 billion. Greek sources estimate that Procopiou has committed to around 20 new ships across various classes in about 10 days, representing an investment of nearly $3 billion.
Meanwhile, Samsung Heavy, in addition to announcing the LNG order, has also signed contracts for two crude oil tankers, bringing the total of the latest commercial contracts for this Korean shipyard to 1.65 trillion won ($1.22 billion). The total commercial inputs for this yard for 2026 have reached $7.3 billion for 42 ships, exceeding the annual target of $5.7 billion and also surpassing last year's total.
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