Samsung Heavy Industries Wins Order for 9 Shuttle Tankers Worth 1.9 Trillion KRW

Achieved 16.3% of This Year's Order Target
Sequential Deliveries Scheduled Until 2028

Samsung Heavy Industries announced on the 17th that it has secured an order for 9 shuttle tankers from shipowners in the Oceania region.

Shuttle tanker built by Samsung Heavy Industries. Provided by Samsung Heavy Industries

The contract value amounts to a total of 1.9355 trillion KRW, which is about one-quarter of the 2023 sales revenue. The company added that this contract has fulfilled 16.3% of this year's order target of 9.8 billion USD.

A shuttle tanker is a transport vessel that carries crude oil produced at offshore plants to onshore storage bases. To ensure stability during offshore loading, it is equipped with an advanced Dynamic Positioning System. Samsung Heavy Industries built the first shuttle tanker in Korea in 1995. Over the past 10 years, it has secured orders for 29 vessels, holding the global market share No.1 position (57%, 29 out of 51 vessels).

The vessels ordered this time will be delivered sequentially by 2028. A Samsung Heavy Industries official said, "We will continue to lead the shuttle tanker market based on our top-notch technology and construction experience," adding, "We will do our best to achieve our order targets focusing on two pillars: eco-friendly ships and high value-added offshore plants such as FLNG (Floating Liquefied Natural Gas production, storage, and offloading facilities)."