On November 7, Samsung Heavy Industries announced that it had signed a contract with a North American shipowner to build two crude oil tankers. The order is worth 290.1 billion won (approximately US$199.4 million), with a cost of approximately US$99.7 million per vessel. The vessels are expected to be delivered to the shipowner in batches before January 2029.
Including the latest orders, Samsung Heavy Industries has secured orders for 32 new vessels worth approximately $5.6 billion so far this year. This represents 83% of its annual commercial shipbuilding target of $5.8 billion, or $4.8 billion. Following the preliminary FLNG contract secured in July, the offshore sector recently signed a letter of intent for the Delfin FLNG project and is expected to achieve its annual target.
By vessel type, the contracts include 7 LNG carriers, 9 shuttle tankers, 2 ethane carriers, 11 crude oil tankers, 2 container vessels and 1 preliminary contract for an offshore facility.
As of now, Samsung Heavy Industries holds a total of 125 vessels in its order book, with an order backlog valued at approximately $26.9 billion.
A Samsung Heavy Industries official stated: “The demand for replacing aging crude oil tankers is expected to persist. Our company will establish collaborative production systems with domestic and international shipyards to flexibly respond to the evolving market environment.”