Seoul: Samsung Heavy Industries Co., a leading shipbuilder from South Korea, announced that it has secured an order valued at 341.1 billion won (approximately US$237 million) for the construction of three oil tankers for a Liberian shipping company. The construction of these vessels is scheduled to take place at an undisclosed shipyard in Vietnam, with completion expected by March 2029. This initiative is part of Samsung Heavy's broader strategy to diversify its production capabilities.
According to Yonhap News Agency, a spokesperson from Samsung Heavy mentioned that the company is broadening its oil tanker production through collaborations with both domestic and international shipbuilders. The company, which already operates a full-scale shipyard in South Korea and a vessel block plant in China, is committed to enhancing its production capacities.
Samsung Heavy further disclosed plans to focus on building value-added ships at its primary shipyard located in Geoje, which is positioned 390 kilometers southeast of Seoul. This site is envisioned to become a central hub for technology development, with a focus on constructing liquefied natural gas (LNG) carriers, container ships, and floating LNG (FLNG) facilities.
The company's strategy involves managing the planning and procurement of critical equipment for the oil tankers, while the actual construction will be executed at partner shipyards across South Korea, China, and Southeast Asia. This latest order contributes to Samsung Heavy's impressive total of $5.2 billion in orders secured this year, marking 53 percent of its annual target of $9.8 billion.