mediumseaOcean Freight Published 3d ago

TMS Cardiff Gas Orders Two New LNG Carriers from Samsung Heavy Industries

TMS Cardiff Gas, led by George Economou, has placed an order for two new Liquefied Natural Gas (LNG) carriers with Samsung Heavy Industries in South Korea. This move signifies the Greek owner's continued expansion within the gas shipping sector, reinforcing its fleet with…

YLOAD News Desk

Published May 15, 2026 at 06:00 AM UTC

Source: Splash247 →

TMS Cardiff Gas, under the leadership of George Economou, has finalized an agreement with Samsung Heavy Industries in South Korea for the construction of two new LNG carriers. This order represents a significant investment, valued at approximately KRW 750.5 billion (USD 505.6 million), with each vessel priced around USD 252 million. This procurement highlights TMS Cardiff Gas's ongoing strategy to expand its presence and capacity within the global gas shipping market.

This latest order follows a pattern of active fleet expansion by TMS Cardiff Gas, positioning the company as one of the most dynamic players in the LNG carrier sector. The continuous investment in newbuilds suggests a long-term positive outlook on the demand for LNG transportation.

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For freight forwarders and supply chain analysts, this development indicates a potential increase in future LNG shipping capacity. While not directly impacting current spot rates or immediate vessel availability for general cargo, it reflects a broader trend of investment in specialized shipping segments. An expanded LNG fleet could contribute to the stability and reliability of energy supply chains, indirectly affecting industrial production and, consequently, demand for other freight services. It also signals confidence in the long-term growth of natural gas as an energy source, which might influence related logistics infrastructure development.

The delivery timeline for these new vessels was not specified in the source article. However, such newbuild orders typically span several years, meaning their impact on market capacity would be felt in the medium to long term.

Entities mentioned

TMS Cardiff Gas shipping-capacity newbuilds lngSouth KoreaGreece