JP Morgan linked to fresh Samsung suezmax order
Two more crude tankers take the bank's suezmax bookings at the yard to seven
JP Morgan has been tied to another tanker newbuilding deal at South Korea's Samsung Heavy Industries, extending a run of orders linked to the bank's shipping investments.
Samsung Heavy signed a contract this week with a Bermuda-based owner for two 158,000 dwt crude oil tankers worth 284.9bn won ($189m), for delivery by May 2029. Shipbuilding sources identified the buyer as Bermuda-based Global Meridian, which manages JP Morgan's shipping investments. The deal lifts JP Morgan-linked suezmax orders at Samsung to seven ships, after the bank's shipowning affiliate was tied to five suezmaxes worth a combined $450m in March and June.
Entities backed by JP Morgan have recently ordered more than 10 vessels at Samsung alone, spanning crude tankers, LNG carriers and LPG carriers. The latest order pushes Samsung Heavy's intake past $10bn for the year; the yard has now booked 32 commercial ships and two FLNG units in 2026, equal to 72% of its $13.9bn annual target.
