Samsung Heavy Industries Wins 290.1 Billion Won Order for Two Crude Oil Tankers

Achieving $5.6 Billion in Orders

Samsung Heavy Industries announced on November 7 that it has secured an order for two crude oil tankers from a shipowner in North America, valued at 290.1 billion won. These vessels are scheduled to be delivered to the client sequentially by January 2029.

S-MAX crude oil tanker built by Samsung Heavy Industries. Photo by Samsung Heavy Industries

With this contract, Samsung Heavy Industries has achieved a total of 5.6 billion dollars (approximately 8.1334 trillion won) in orders. A representative from Samsung Heavy Industries stated, "Of the 5.6 billion dollars in orders, 4.8 billion dollars are for commercial ships, which means we have achieved 83% of our annual target of 5.8 billion dollars. In the offshore sector, following a preliminary work contract for offshore production facilities worth 800 million dollars, we recently received a Letter of Award (LOA) from Delfin in the United States, so we expect to reach our goal without difficulty."

By vessel type, the orders include seven liquefied natural gas (LNG) carriers, nine shuttle tankers, two container ships, two ethane carriers, eleven crude oil tankers, and a preliminary work contract for one offshore production facility, totaling 32 vessels.

The current order backlog stands at 12.5 billion dollars for 125 vessels.

A representative from Samsung Heavy Industries commented, "The demand for replacing aging crude oil tankers is expected to continue," and added, "We will actively respond to market conditions by establishing a flexible production system through cooperation with domestic and overseas shipyards."