JP Morgan, the U.S. banking giant, has added two new VLGC (Very Large Gas Carrier) tankers to its construction program at Samsung, bringing its total to six tankers. These ships will be built at Samsung's shipyard on Geoje Island, South Korea, with delivery scheduled for 2030.
Details of the New Shipments
Shipbuilding sources report on the order of two new gas tankers linked to the Bermuda-based maritime investment platform, Global Meridian Holdings. These contracts are based on a series of previous orders discovered earlier this year. In April, Global Meridian reserved two tankers and in late May, two more tankers with a capacity of 88,000 cubic meters for delivery in 2029 at a cost of approximately $113 million per ship.
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JP Morgan's Maritime Construction Development
Previously, shipbuilding databases had shown that Global Meridian reached a total of six linked VLGC tankers at Samsung before adding the new ones in September. These two new tankers are part of JP Morgan's broader efforts to develop maritime construction.
Global Meridian alone is linked to the construction of VLCC (Very Large Crude Carrier), Suezmax, and VLGC tankers at shipbuilding yards in South Korea and China. Additionally, Oceonix is also increasing its presence in the LNG (Liquid Natural Gas) tanker construction sector.
This year, Andrian Dacy from JP Morgan announced that the group's transportation investment business has arranged for over 30 tankers and gas tanker construction in about six months, involving more than $3 billion in capital investment. Samsung remains at the center of this program.
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