On March 10, Samsung Heavy Industries announced that it had signed a contract with a Bermuda-based shipowner to build three crude oil carriers. The total order value is 400.1 billion won (approximately $270 million), with each vessel costing about $90 million.
The new buildings are expected to be delivered to the shipowner in batches before February 2029. Industry sources indicate that the order is related to JP Morgan.
With the latest orders, Samsung Heavy Industries has secured 11 new ship orders worth $2.1 billion this year, achieving approximately 15% of its annual order target of $13.9 billion.
By vessel type, this includes 3 liquefied natural gas (LNG) carriers, 2 ethane carriers, 2 container ships and 4 crude oil tankers.
As of March 10, Samsung Heavy Industries had an order backlog of 137 vessels, with an order value of $29.5 billion.
A Samsung Heavy Industries spokesperson stated: “We will continue to adhere to an order selection strategy centered on profitability.”