Samsung Heavy Industries Co. announced on Nov. 1 that it has secured a significant contract to supply four Suezmax tankers to an African shipowner. The deal, valued at 459.3 billion won (approximately $390 million), marks a notable achievement for the South Korean shipbuilding giant as it continues to navigate the competitive and cyclical shipbuilding industry.
The Suezmax tankers, which represent the largest ships capable of transiting the Suez Canal, are scheduled for delivery by December 2027. This contract is a testament to Samsung Heavy Industries’ (SHI) strategic focus on high-value-added ships, aligning with the global increase in energy demand. A representative from SHI commented, “Global energy demand is expected to continue increasing,” highlighting the ongoing need for efficient and capable vessels to transport crude oil and liquefied natural gas (LNG) across the world.
This latest contract brings SHI’s total orders for the year to 29 vessels, with a cumulative order value of $6 billion. This figure represents 62% of the company’s annual target of $9.7 billion. In addition to the four Suezmax tankers, SHI has secured orders for 22 LNG carriers, two very large ammonia carriers, and one shuttle tanker. The company’s selective order strategy focuses on high-value-added ships such as LNG carriers and floating liquefied natural gas (FLNG) units. “While maintaining a selective order strategy focused on high-value-added ships such as LNG carriers and FLNG, we will also closely monitor the market for container ships and tankers to respond flexibly,” the SHI representative added.
Source: Business Korea
