South Korea’s Samsung Heavy Industries Co. has announced a new order worth 290.1 billion won (US$199.4 million) to build two crude oil carriers for a North American client, marking another milestone in its successful 2025 performance.
Strengthening Global Market Presence
Under the agreement, Samsung Heavy Industries will deliver the two crude oil carriers sequentially by January 2029. The client’s identity has not been disclosed. With this deal, the company has now achieved 83% of its annual commercial ship order target of US$5.8 billion, reinforcing its strong position in the global shipbuilding industry.
Continued Demand for Energy Transport Vessels
So far in 2025, Samsung Heavy Industries has secured contracts for 32 vessels, including seven liquefied natural gas (LNG) carriers, nine shuttle tankers, and 11 crude oil carriers. The company expects ongoing replacement demand for aging crude carriers to sustain market momentum. A Samsung Heavy official stated that the company will continue to adapt to changing market conditions through a cooperative production system with both domestic and overseas shipyards.
The latest order underscores Samsung Heavy Industries’ resilience and adaptability amid fluctuating global shipping demands. As it moves closer to meeting its annual order target, the company remains focused on leveraging innovation and partnerships to strengthen its leadership in the energy transport vessel market.
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Source: YONHAP NEWS AGENCY
