Wedoany.com Report-Apr. 8, Samsung Heavy Industries Co., ranked as the world’s third-largest shipbuilder by order volume, announced on Tuesday that it has secured a 477.8 billion-won (US$325 million) contract to construct four oil carriers for a client in the Oceania region. The company plans to deliver these vessels in stages to an unnamed Oceanian shipping firm, with completion scheduled by December 2028, according to a press release.

This file photo, provided by Samsung Heavy Industries Co., shows an oil carrier built by the shipbuilder.

The company noted a rising need to replace aging oil carriers, stating: “There is a growing replacement demand for aged oil carriers. The company will selectively receive orders to build higher-value ships, such as liquefied natural gas (LNG) carriers and floating LNG facilities.” This approach reflects Samsung Heavy’s strategy to focus on premium shipbuilding projects while meeting current market demands.

This new order boosts the company’s total contracts for the year to approximately $2.2 billion, representing 22% of its $9.8 billion annual target. As of late February, Samsung Heavy’s order backlog stood at $30.5 billion, ensuring steady work for its shipyard in Geoje, located about 330 kilometers south of Seoul, over the next three years. The facility remains a key hub for the company’s operations.

The agreement highlights Samsung Heavy Industries’ ongoing success in the global shipbuilding market, balancing traditional oil carrier projects with plans to expand into advanced vessels like LNG carriers. The phased delivery of the four oil carriers by 2028 will support the Oceanian client’s fleet renewal, while reinforcing the company’s reputation for reliable, high-quality ship construction.