Samsung Heavy Industries Wins Order for Four Suezmax-Class Crude Oil Tankers Worth 477.8 Billion KRW

Oceania Shipowner... Sequential Delivery by 2028
Achieves 22% of This Year's Order Target... Surpasses 3.2 Trillion KRW
"Flexible Response Focused on High Value-Added Products"

Samsung Heavy Industries has secured an order for four crude oil tankers (oil tankers) from an Oceania-based shipowner. With this contract, Samsung Heavy Industries has achieved 22% of its annual order target set at the beginning of the year.

On the 8th, Samsung Heavy Industries announced that it had secured an order worth 477.8 billion KRW for four Suezmax-class crude oil tankers. The Suezmax class refers to the largest size of vessels that can pass through the 'Suez Canal,' which connects the Mediterranean Sea and the Red Sea. This contract involves the supply of four Suezmax-class crude oil tankers with a capacity of 156,000 tons each, which are scheduled to be delivered sequentially to the shipowner by December 2028.

The image of the crude oil tanker previously delivered by Samsung Heavy Industries. The photo is unrelated to the main contract. Samsung Heavy Industries

Including this contract, Samsung Heavy Industries has secured a total of approximately 3.2 trillion KRW in orders. This corresponds to 22% of the annual order target of 9.8 billion USD (approximately 14.4 trillion KRW) set at the beginning of the year. The total number of vessels ordered this year is 16. By vessel type, there is one liquefied natural gas (LNG) carrier, nine shuttle tankers, two ethane carriers, and four crude oil tankers. The company explained that it is expanding its order portfolio with a variety of vessel types.

A representative from Samsung Heavy Industries stated, "Since the proportion of aging vessels is high in crude oil tankers, replacement demand is expected to continue steadily," adding, "While maintaining a selective order strategy focused on high value-added products such as LNG carriers and FLNG (Floating Liquefied Natural Gas plants), we will also respond flexibly to changes in the global market environment."