Samsung Heavy Industries Co., the world’s third-largest shipbuilder by order volume, announced on Tuesday that it has secured a 477.8 billion-won (US$325 million) contract to construct four oil carriers for an undisclosed shipper in the Oceania region, according to Yonhap.
The company stated that the four vessels are scheduled for phased delivery by December 2028.
Samsung Heavy Industries said, "There is a growing replacement demand for aged oil carriers. The company will selectively receive orders to build higher-value ships, such as liquefied natural gas (LNG) carriers and floating LNG facilities."
With this latest contract, Samsung Heavy Industries has accumulated approximately $2.2 billion in orders this year, representing 22 percent of its annual target of $9.8 billion. As of the end of February, the company reported an order backlog of $30.5 billion, sufficient to sustain operations at its Geoje-based shipyard, located about 330 kilometers south of Seoul, for the next three years.
Samsung Heavy Industries Co., headquartered in Seoul, South Korea, is a major global shipbuilding company and ranks as the world’s third-largest shipbuilder by order volume. Established in 1974 as part of the Samsung Group, it operates a significant shipyard in Geoje, approximately 330 kilometers south of Seoul. The company specializes in constructing a wide range of vessels, including oil carriers, liquefied natural gas (LNG) carriers, and floating LNG facilities, catering to both commercial and industrial maritime needs.