Samsung Heavy Industries (SHI) has achieved 83% of its annual order target for commercial vessels after securing an order for two oil tankers.

The company announced on Nov. 7 that it has won an order for two oil tankers worth 290.1 billion won from a North American shipowner. The vessels ordered will be delivered to the shipowner sequentially by January 2029.

With this contract, Samsung Heavy Industries has secured a total of $5.6 billion in orders this year. Among these, commercial vessels account for $4.8 billion, achieving 83% of the target of $5.8 billion.

Samsung Heavy Industries recently secured preliminary work for offshore production facilities worth $800 million and received a letter of award (LOA) from U.S.-based Delfin, indicating that achieving its annual target should be manageable.

This year, Samsung Heavy Industries has won orders for 32 vessels by ship type: 7 liquefied natural gas (LNG) carriers, 9 shuttle tankers, 2 container ships, 2 ethane carriers, 11 oil tankers, and preliminary work contracts for offshore production facilities (1 unit). The current order backlog stands at 125 vessels worth $26.9 billion.

A company official said, “Demand for oil tanker replacements due to aging vessels is expected to continue,” adding, “We will actively respond to market conditions by establishing a flexible production system through cooperation with domestic and international shipyards.”

Source: BusinessKorea