Seoul: Samsung Heavy Industries Co., the world's third-largest shipbuilder by orders, announced on Thursday that it has secured a significant order for a liquefied natural gas (LNG) ship valued at 358 billion won (US$259 million). The company will construct the LNG carrier for an undisclosed client in Asia, with a completion target set for June 2027. According to Yonhap News Agency, Samsung Heavy has accumulated $5.6 billion in orders so far this year, representing 58 percent of its annual order target of $9.7 billion. The company remains optimistic about reaching its annual goal, as it continues negotiations for additional contracts involving LNG ships and environmentally friendly container carriers. Samsung Heavy currently boasts an order backlog of $31.9 billion, ensuring that its Geoje-based shipyard, situated approximately 330 kilometers south of Seoul, will remain active for the next three years. The company's financial performance has also seen a significant boost, with its net profit more than doubl ing to 153.2 billion won in the January-September period, compared to 68.1 billion won in the previous year. This surge in profit is attributed to the rising demand for high-value-added ships, such as LNG carriers and floating LNG facilities.