Samsung Heavy Industries Secures $325 Million Order for Four Oil Carriers

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  • Samsung Heavy Industries has received a 477.8 billion-won (US$325 million) order to build four oil carriers for an undisclosed Oceanian shipping company, with delivery scheduled for December 2028.​

  • This contract contributes to the company’s $2.2 billion in orders secured this year, achieving 22% of its annual target of $9.8 billion.​

  • Samsung Heavy Industries had an order backlog of $30.5 billion as of late February, ensuring operations at its Geoje shipyard for the next three years.​

Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, has announced a significant contract to construct four oil carriers for an unidentified shipping company in the Oceania region. The deal, valued at 477.8 billion won (approximately US$325 million), underscores the company’s robust presence in the global shipbuilding industry. The vessels are slated for phased delivery, with completion expected by December 2028.​

Aligning with Industry Trends and Demand


In response to the increasing demand for the replacement of aging oil carriers, Samsung Heavy Industries is strategically focusing on securing orders for high-value ships. The company aims to enhance its portfolio by prioritizing the construction of vessels such as liquefied natural gas (LNG) carriers and floating LNG facilities. This approach aligns with the industry’s shift toward more efficient and environmentally friendly maritime solutions.​

Progress Toward Annual Order Targets


With the addition of this latest contract, Samsung Heavy Industries has achieved approximately $2.2 billion in orders for the current year, representing 22% of its ambitious annual target of $9.8 billion. As of the end of February, the company’s order backlog stood at $30.5 billion, providing a solid foundation for sustained operations. This backlog is expected to keep its Geoje-based shipyard, located about 330 kilometers south of Seoul, operating at full capacity for the next three years.

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Source: Yonhap News Agency