Samsung Heavy Industries third-quarter operating profit rises 42.1 percent on higher ship prices

Samsung Heavy Industries said Thursday its third-quarter operating profit rose 42.1 percent from a year earlier to 338 billion won ($253 million), as higher ship prices lifted returns across its order book.

Revenue for the July-September period climbed 19.6 percent to 3.15 trillion won ($2.36 billion) from 2.63 trillion won a year earlier, the company said in a regulatory filing. Pre-tax profit from continuing operations reached 611 billion won ($457 million), up sharply from 141 billion won a year earlier.

The result reflects a shipbuilding market in which prices for the vessels Samsung Heavy builds have held at elevated levels. A 174,000-cubic-meter LNG carrier was priced at $248.5 million in the first half of 2026, an ultra-large container ship at $195 million and a very large crude carrier at $130.5 million.

Samsung Heavy builds ships including very large container carriers, LNG carriers and crude oil tankers, as well as offshore platforms such as LNG-FPSO and FPU units, and carries out building and civil engineering and high-tech construction work through its construction division.

Samsung Heavy's order backlog stood at 34.7 trillion won ($26 billion) in the shipbuilding and offshore division at the end of June, with 293 billion won ($220 million) in construction, for a combined 35 trillion won ($26.2 billion). The company's market capitalization stood at 14.4 trillion won ($10.8 billion) as of Oct. 28, ranking 47th on the Kospi.