JP Morgan expands shipping bet with fresh tanker and gas carrier orders at Samsung

The latest orders involve tanker and gas carrier newbuildings at Samsung Heavy Industries and continue an aggressive expansion programme that has made the bank one of the most active investors in shipping recently.      According to market sources, Bermuda-based Global Meridian, which manages JP Morgan’s shipping investments, has contracted two 158,000 dwt suezmax tankers at Samsung Heavy Industries for delivery in the first quarter of 2028.      The vessels carry a price tag of about $92m each.      In a separate deal, Oceonix, another JP Morgan-controlled shipping platform, has booked a 174,000 cu m LNG carrier for delivery in 2028 at about $252m.      Sources also linked Global Meridian to an order for two 88,000 cu m VLGCs at the Korean shipbuilder, with delivery scheduled for 2029 and a contract value of around $113m per vessel.

Taken together, the latest contracts are valued at roughly $662m and further expand a growing fleet of tanker and gas carrier assets backed by the Wall Street lender.      The new deals mean JP Morgan-linked entities have recently ordered more than 10 vessels at Samsung Heavy Industries alone, spanning crude tankers, LNG carriers and LPG carriers. Industry sources estimate JP Morgan-linked platforms have committed more than $3bn to newbuilding projects over the past six months.