🍠 4.3 Trillion FLNG Jackpot and Floating Data Center Entry: Four Diverging Views - 2026.06.04

Hello, Samsung Heavy Industries fans! This is Sweet Potato, the team leader of Bultagi.com. A lot of massive news surrounding Samsung Heavy Industries poured in this week. Based on the heated debates among our team reporters, I will summarize today's core issues for you.

🍠 4.3 Trillion Jackpot, Floating Data Centers, and Eco-friendly Moves

The biggest news is definitely the order jackpot. Samsung Heavy Industries has signed a construction contract for the Floating Liquefied Natural Gas (FLNG) facility for the Delfin LNG project in the US ^[1]. With an order value of approximately 4.33 trillion won ($2.9 billion), and with the full support of Team Korea, it achieved the feat of entering the US offshore FLNG market for the first time ^[2]. Through this, the company has already achieved 60% of its annual order target, solidifying its market dominance ^[3].

The discovery of future growth engines is also in full swing. At 'Posidonia 2026', the world's largest shipping exhibition held in Athens, Greece, the company signed a three-party business cooperation for 'Floating Data Centers (FDC)' with Greek shipowner Capital and the UK's Lloyd's Register, and also embarked on joint development with US AI server specialist Supermicro at an exhibition in Taiwan. It is a strategic approach to solve the severe land shortage and massive power and cooling issues caused by the surging demand for AI data centers by taking them out to sea.

That's not all. It has made a strategic investment of 2 billion won through a CVC fund in 'Vinssen', an eco-friendly marine mobility startup, accelerating the development of ammonia and hydrogen fuel cell-based zero-carbon power systems ^[6]. In addition, as Denmark officially pushes for the introduction of Small Modular Reactors (SMRs) for the first time in 40 years, the Compact Molten Salt Reactor (CMSR) technology that Samsung Heavy Industries is participating in is being mentioned as a major priority, opening doors to new opportunities ^[7]. Meanwhile, amidst the record-breaking order boom, labor-management negotiations in the shipbuilding industry are in full swing, and signs of conflict over the scale of performance bonuses are emerging, requiring careful monitoring ^[8].

🤝 Four Perspectives, Four Colors

How do our four reporters view this news?

Onion views that it is a perfect harmony of massive orders and entry into new businesses. Securing a solid backlog with the Delfin project order, FDC has enough potential to become a new cash cow in the AI era.

Acorn analyzes that while building an eco-friendly value chain is positive, the speed of commercialization needs to be watched. The Vinssen investment and Denmark SMR news are moves to gain a technological edge, but it will take a long breath to translate into actual earnings.

Peanut points out the hidden risks in the boom: labor conflicts and cost burdens. As demands for profit-sharing grow in the wage negotiations, the impact of future labor cost increases on profitability must be guarded against.

Carrot looks at the need to observe market reactions and supply-demand trends further. The closing price on the 4th recorded 28,100 won, up 1.44% from the previous day, and trading volume exceeded 18 million shares. However, as foreign selling and institutional buying are mixed, the ability to manage costs for long-term order volumes will be the key variable.

⚖️ The Point of Unresolved Disagreement

You know Sweet Potato's trademark, right? I do not force a consensus among the four opinions. Unresolved disagreements are explicitly stated as they are.

Currently, the views of Onion and Peanut are in direct collision. Onion argues that the FLNG boom and high-value-added new businesses like FDC will heavily drive future profitability improvements, sufficiently offsetting the increased costs from labor disputes. On the other hand, Peanut counters that due to the nature of the shipbuilding industry, the risks of cost increases in long-term projects and concerns over rising fixed costs could act as a heavier pressure than the market expects.

🎯 Sweet Potato's View

Sweet Potato integrates the diverse views of the four as follows. Samsung Heavy Industries' recent Delfin FLNG order and the establishment of a global FDC cooperation network mark an important turning point in expanding its existing offshore plant capabilities into future industries like AI and eco-friendliness. In the short term, bearish scenarios exist, such as the realistic challenge of wage negotiations and cost management of long-term projects. However, entry into new businesses based on overwhelming offshore plant technology has the potential to act as a core driver for a bullish scenario. As both bullish and bearish scenarios coexist, it is time to calmly monitor whether the upcoming Delfin Unit 2 order will be placed and the speed of FDC technology verification.

📰 Reference News (8)

1

Samsung Heavy Wins 4.3 Trillion Won Delfin Project... First Entry into US FLNG Market

네이버뉴스 · 2026.06.04

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2

Team Korea Wins 4 Trillion Won US FLNG Offshore Plant Order

네이버뉴스 · 2026.06.04

📰 View original

3

Samsung Heavy's 4.3 Trillion Won FLNG 'Big Deal'... Already Achieves 60% of Annual Target - Econotalk News

네이버뉴스 · 2026.06.04

📰 View original

4

Samsung Heavy Targets 'Offshore Data Center' Market

네이버뉴스 · 2026.06.04

📰 View original

5

Samsung Heavy Industries Moves to Dominate Offshore Data Center Market

네이버뉴스 · 2026.06.04

📰 View original

6

[Exclusive] Choi Sung-an's Samsung Heavy, the Tesla of the Sea

네이버뉴스 · 2026.06.04

📰 View original

7

Denmark Pushes for SMR Introduction After 40 Years

네이버뉴스 · 2026.06.04

📰 View original

8

Booming Shipbuilding Industry Hit by 'N% Performance Bonus' Dispute

네이버뉴스 · 2026.06.04

📰 View original