JP Morgan-linked shipowner Global Meridian has ordered two new suezmax crude oil tankers from Samsung Heavy Industries, adding to a fast-growing orderbook that signals continued financial interest in tanker tonnage, according to Splash247.
Details of the Order
Samsung Heavy said this week it had signed a contract with a Bermuda-based shipowner for two crude oil tankers worth KRW284.9bn ($189m). The 158,000 dwt vessels are scheduled for delivery by May 2029. Shipbuilding sources have identified the buyer as Bermuda-based Global Meridian, which manages JP Morgan's shipping investments, Splash247 reported.
The latest deal lifts JP Morgan-linked suezmax orders at Samsung to seven ships. In March and June, Global Meridian Holdings, the Bermuda-based shipowning affiliate of JP Morgan, had been linked to a total of five suezmaxes at Samsung Heavy, worth a combined of roughly $450m, according to the report.
The following table summarises the known JP Morgan-linked suezmax orders at Samsung Heavy:
| Order Date | Vessels | DWT Each | Estimated Value | Delivery |
|---|---|---|---|---|
| March & June 2026 | 5 suezmaxes | Not specified | ~$450m combined | Not specified |
| July 2026 | 2 suezmaxes | 158,000 dwt | $189m | May 2029 |
JP Morgan's Growing Orderbook
JP Morgan-linked interests have been one of the busiest financial buyers in the newbuilding market this year, Splash247 reported. Taken together, entities backed by the Wall Street lender have recently ordered more than 10 vessels at Samsung Heavy Industries alone, spanning crude tankers, LNG carriers and LPG carriers. While the exact mix beyond the seven suezmaxes is not detailed in the source, the orderbook underscores the bank's commitment to the shipping sector.
Samsung Heavy's Record Year
The latest tanker order also pushes Samsung Heavy's order intake past $10bn for the year, according to the yard's announcement. The yard said it has now booked 32 commercial ships and two FLNG units in 2026, equal to 72% of its annual target of $13.9bn. The $10bn intake covers a range of vessel types, including the JP Morgan-linked tankers and other commercial tonnage.
Implications for Shippers and Operators
For freight forwarders, logistics managers, and ocean carriers, the order adds to the future supply of suezmax tonnage, which could influence tanker rates on key crude oil routes once the vessels deliver in 2029. The continued investment by financial players like JP Morgan suggests confidence in long-term tanker demand, though the immediate effect on spot rates is minimal given the distant delivery dates. The order also highlights Samsung Heavy's ability to secure high-value contracts in a competitive newbuilding market, potentially affecting yard capacity and pricing for future orders.
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