Korea's Samsung Heavy Industries has continued its LNG contract spree with a new order for two ships.

On Friday, the shipbuilder said it had secured a deal worth KRW 450bn ($381m) with a Bermuda-registered client.

The vessels are to be delivered by June 2022.

$3bn orderbook

The deal lifts the shipbuilder's orderbook for the year to 11 vessels worth $3bn. Ten of them are LNG carriers. Samsung is targeting new business worth $7.8bn this year.

The shipbuilder reported a loss of KRW 102bn for the first quarter, compared with a deficit of KRW 59.5bn in the corresponding period last year.

Sales dropped by more than 17%, while an operating loss of KRW 33.3bn was down on the KRW 47.8bn logged in the same period last year.