Seoul: Samsung Heavy Industries Co., the world's third-largest shipbuilder by orders, announced on Monday that it has secured a significant 1.94 trillion-won (US$1.34 billion) contract to construct nine shuttle tankers for a shipper located in the Oceania region. These vessels are scheduled for phased delivery by 2028.
According to Yonhap News Agency, Samsung Heavy Industries did not disclose the name of the client in its regulatory filing. The shuttle tankers are specialized vessels that play a crucial role in the transportation of crude oil from offshore production sites to onshore storage facilities.
Samsung Heavy Industries holds a prominent position as the global leader in the construction of shuttle tankers, having delivered South Korea's first such vessel in 1995. Over the past decade, the company has secured orders for 29 shuttle tankers, commanding 57 percent of the global market share.
With this latest contract, Samsung Heavy Industries has reached 16.3 percent of its annual order target of $9.8 billion. A company official stated, "We remain committed to achieving our order targets by focusing on high-value eco-friendly ships and floating liquefied natural gas (FLNG) plants."