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Biz News Korea(Eng)

Samsung Heavy Industries wins $275 mn oil tanker order

Collected: 2016.10.28

Distributed: 2016.10.31

Source: Go Direct

[Suezmax crude oil tanker]

South Korea’s Samsung Heavy Industries Co. won orders worth about 200 billion won ($174.8 million) for three oil tankers keeping up the momentum of bringing new work for its dockyard since two months ago.

Samsung Heavy Industries announced on Friday that it signed a contract worth about 200 billion won with Nordic American Tankers to build three 157,000-deadweight ton (DWT) oil tankers. The Nordic American Tankers that owns 30 suezmax crude oil tankers ranging in size between 140,000-DWT and 160,000-DWT has maintained long-term partnership with Samsung Heavy Industries since the Norwegian shipper placed orders with the Korean shipbuilder to construct three suezmax crude oil tankers in 1995. Of the 30 suezmax crude oil tankers the Norwegian firm owns, 12 tankers were built by Samsung Heavy Industries.

The shipbuilder landed on this year’s first order to build two liquefied natural gas (LNG) carriers at the end of September and secured another to construct seven oil tankers earlier this month. The total order amount has reached about $800 million until now and the shipbuilder is expected to add another large-sized offshore project on its order book this year.

The company is in the final stage of talks with Italy-based Eni SpA over the Coral floating LNG project off Mozambique with an expectation to sign a contract within this year. The project that the Korean shipbuilder has teamed up with Technip from France and JGC from Japan is expected to bring 3 trillion won share for Samsung Heavy Industries.

By Kim Jung-hwan

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