SEOUL, October 24 (AJP) - Samsung Heavy Industries said on Friday that it has secured an order worth 341.1 billion won, or about $244 million, to build three oil tankers for a Liberian shipowner.
The order brings Samsung Heavy’s total contracts this year to $5.2 billion, about 78 percent of its $5.8 billion goal for the merchant ship sector. The company also aims to reach $4 billion in offshore projects, including work on the Coral and Delfin floating liquefied natural gas (FLNG) facilities.
So far this year, the shipbuilder has won contracts for 30 vessels: seven LNG carriers, nine shuttle tankers, two container ships, two ethane carriers, and nine oil tankers, in addition to a preliminary deal for an offshore production platform.
The latest oil tankers will be built in Vietnam — part of Samsung’s broader effort to diversify its global production base beyond South Korea and China.
At home, the company is focusing its Geoje shipyard on high-value and eco-friendly vessels, such as LNG carriers and low-emission container ships. While the design and procurement for tankers remain under Samsung’s supervision, construction has been spread across yards in China, Southeast Asia, and South Korea to enhance cost efficiency and flexibility.
Last year, Samsung built eight oil tankers for Greece’s Centrofin and Dynacom Tankers at the PaxOcean Zhoushan shipyard in China. Two more, ordered by Greece’s New Shipping in September, are being built in South Korea.
“We are expanding our global network by partnering with India’s Swan Shipyard and the U.S.-based Vigor Marine Group on strategic projects such as maintenance and repair,” a Samsung Heavy spokesman said. “Our goal is to create a sustainable and competitive production system that can adapt to the rapidly changing market environment.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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