Samsung Heavy Industries Co. (SHI) has recently signed a major contract valued at 459.3 billion won (approximately $390 million) to deliver four Suezmax tankers to an African client by December 2027. This deal not only strengthens SHI’s portfolio but also reflects the company’s strategic focus on high-value-added vessels to meet the rising demand in global energy transportation.
Strategic Focus on High-Value-Added Vessels
SHI’s recent order for Suezmax tankers is part of its broader strategy to target premium ship types, such as LNG carriers and floating liquefied natural gas (FLNG) units, in response to increasing global energy needs. This selective approach positions the company to remain competitive in the fluctuating shipbuilding market.
Impressive Progress Toward 2024 Targets
With this latest contract, SHI’s order total for 2024 reaches 29 vessels, valued at a cumulative $6 billion, meeting 62% of its yearly goal of $9.7 billion. In addition to the Suezmax tankers, SHI’s orders include 22 LNG carriers, two very large ammonia carriers, and one shuttle tanker, reflecting its commitment to specialized, high-demand vessels.
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Source: BUSINESS KOREA
