On August 3, South Korean shipbuilder Samsung Heavy Industries announced a contract with a European shipowner to build two crude oil tankers. The total order value is 268 billion KRW (approximately $196 million)—translating to a unit price of around $98 million—with deliveries scheduled to be completed by August 2029.
With this latest contract, Samsung Heavy Industries has secured orders for 34 commercial vessels totaling $5.8 billion so far this year. This achievement represents 102% of its annual commercial shipbuilding order target of $5.7 billion, meaning the company has surpassed its goal approximately five months ahead of schedule.
By vessel type, the orders include 14 liquefied natural gas (LNG) carriers (including one LNG-FSRU), two ethane carriers, four gas carriers, two container ships, and 12 crude oil tankers; in the offshore sector, Samsung Heavy Industries has secured orders for two floating liquefied natural gas (FLNG) units. With these additions, the company’s total order volume for the year has reached $10.2 billion, representing 73% of its annual target of $13.9 billion.
A representative from Samsung Heavy Industries stated: “Driven by demand for LNG carriers and crude oil tankers, order volume remains robust, and our commercial shipbuilding business is showing strong momentum; we have already exceeded our annual order target ahead of schedule. Moving forward, we will focus more on selective, high-profitability orders and respond flexibly to changing demand through our global operations.”
Samsung Heavy Industries has not disclosed the identity of the shipowner for the two newly announced crude oil tankers; however, market reports link the order to the Turkish tanker owner Ditas. The vessels are Suezmax tankers with a capacity of 157,000 deadweight tons (DWT). With this latest deal, the shipowner has placed orders for a total of four Suezmax tankers at South Korean shipyards recently, with a combined value exceeding $370 million.