Seoul: Samsung Heavy Industries Co., the world's third-largest shipbuilder by orders, announced it has secured a 477.8 billion-won (US$325 million) contract to construct four oil carriers for a client in the Oceania region. The company plans to deliver the vessels in stages, with the final delivery scheduled for December 2028.
According to Yonhap News Agency, Samsung Heavy noted a rising demand for replacing outdated oil carriers. In response, the company intends to focus on receiving orders for higher-value ships, including liquefied natural gas (LNG) carriers and floating LNG facilities. With this new contract, Samsung Heavy has achieved approximately $2.2 billion in orders this year, representing 22 percent of its annual goal of $9.8 billion.
As of the end of February, Samsung Heavy reported an order backlog of $30.5 billion. This backlog is expected to keep its shipyard in Geoje, located around 330 kilometers south of Seoul, fully occupied for the coming three years.