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Samsung Heavy bags 361 bln-won order for 3 shuttle tankers

All News 09:38 March 02, 2020

SEOUL, March 2 (Yonhap) -- Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Monday it has won an order worth 361.1 billion won (US$299 million) to build three shuttle tankers.

Under the deal with an Asian shipper, Samsung Heavy will deliver three Suezmax shuttle tankers by July 2022, the company said in a regulatory filing. Suezmax refers to the largest ships that are capable of transiting the Suez Canal fully laden.

A shuttle tanker is a ship designed to transport oil from an offshore oil field to a storage tank and is equipped with a variety of offloading equipment. Samsung Heavy said it is the leading player in the global shuttle tanker market, with a 45 percent share.

The shipbuilder has set its order target for this year at $8.4 billion, up 18 percent from last year's total orders of $7.1 billion.

This undated photo provided from Samsung Heavy Industries Co. shows a shuttle tanker built by the company. (PHOTO NOT FOR SALE) (Yonhap)

kdon@yna.co.kr
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