The shipbuilder plans to build these crude oil carriers at its shipyard in Vietnam. A company official explained, “This is part of our global operation strategy to continuously expand global production bases.”

Samsung Heavy Industries is fostering its Geoje Shipyard as a technology development hub while specializing in the construction of high-value-added vessels such as liquefied natural gas (LNG) carriers, eco-friendly container ships, and floating LNG production facilities (FLNG). Meanwhile, for crude oil carriers, Samsung Heavy Industries handles the design and procurement of major equipment, while entrusting the entire ship construction to shipyards in China, Southeast Asia, and Korea.

Samsung Heavy Industries is currently building a total of eight crude oil carriers ordered from Greek Centrofin in July last year and Dynacom Tankers in November at the Zhoushan Shipyard in China, under the Pax Ocean Group in Singapore. Two crude oil carriers ordered from Greek New Shipping in September this year are scheduled to be built in Korea, and through this collaboration model, the company plans to expand win-win cooperation with small and medium-sized shipyards in Korea.

Including this contract, Samsung Heavy Industries has secured orders totaling $5.2 billion (approximately 7.47 trillion won) this year. In the merchant ship sector, it has secured $4.5 billion, which is 78% of its target ($5.8 billion). In the offshore sector, following the preliminary work order of $700 million, the company plans to achieve its target of $4 billion by securing orders for Coral FLNG and Dolphin FLNG.

A Samsung Heavy Industries official said, “We are expanding our global network, such as recently establishing shipbuilding cooperation with India’s Swan Shipyard and strategic cooperation including maintenance, repair, and overhaul (MRO) with the U.S. Vigor Marine Group,” adding, “We aim to build a sustainable and competitive flexible production system in response to the rapidly changing market environment.”

Source: BusinessKorea