Samsung Heavy Industries has secured a contract for two oil tankers, surpassing $10 billion in annual orders for the first time in five years since 2021.
On July 8, Samsung Heavy Industries announced that it signed a construction contract with a Bermuda-based shipping company for the two oil tankers. The total contract value is approximately 284.9 billion won, with the vessels scheduled for delivery by May 2029.
Including this contract, Samsung Heavy Industries' cumulative orders for this year have reached $10 billion, comprising 32 merchant ships and two floating liquefied natural gas (FLNG) production units. This figure represents 72% of its annual order target of $13.9 billion.
This marks the first time since 2021 that Samsung Heavy Industries has exceeded $10 billion in annual orders, driven by a significant increase in merchant ship orders amid a global economic recovery. The company has also secured large-scale offshore projects, including FLNG units, enhancing its prospects for achieving this year's order target.
A representative from Samsung Heavy Industries stated, "The achievement of surpassing $10 billion in annual orders after five years is attributed to the stable order flow in the merchant ship sector and the acquisition of large offshore projects like the two FLNG units. We will strengthen our two-track growth foundation encompassing both merchant ships and offshore projects to enhance our resilience against market volatility and establish a stable management base."
Additionally, Samsung Heavy Industries announced on July 2 that it signed a strategic cooperation agreement with Singapore's Kuok Group to collaborate on future business ventures, including shipbuilding, marine logistics, and digital infrastructure.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.