Seoul — Samsung Heavy Industries has signed a contract valued at 290.1 billion won (approximately $199.4 million) to build two crude oil carriers for a customer in North America, the company announced on Friday. The vessels are scheduled for sequential delivery by January 2029.
With this latest order, Samsung Heavy has reached about 83 percent of its annual commercial ship order target of $5.8 billion, according to the company. So far in 2025, the shipbuilder has booked contracts for 32 vessels, including seven liquefied natural gas carriers, nine shuttle tankers, and 11 crude oil carriers.
“Replacement demand for aging crude carriers is expected to continue,” a Samsung Heavy official said. The company plans to adapt to market shifts through what it described as a cooperative production strategy involving both domestic and international shipyards.
The deal comes as shipbuilding and energy projects are expected to play a major role in South Korea’s $350 billion investment commitment in the United States, agreed upon this week under a comprehensive trade arrangement. The U.S. government has been pushing to strengthen domestic infrastructure in sectors including maritime transport and energy.
Under the terms of the agreement, $200 billion of the investment will be delivered in cash installments, while $150 billion will be allocated specifically for shipbuilding collaboration, with an annual investment ceiling of $20 billion. Oversight will be provided by an investment committee led by U.S. Commerce Secretary Howard Lutnick, with funds managed through a designated special purpose entity. (Source: IANS)
