Samsung Heavy Industries wins additional order for two crude oil carriers.

Samsung Heavy Industries secured additional orders for crude oil tankers, surpassing $10 billion in annual orders for the first time in five years.

Samsung Heavy Industries said in a filing released on the 8th that it has won orders for 2 crude oil tankers from a shipping company in the Bermuda region for a total of 2849억원. The vessels are expected to be delivered sequentially by May 2029. With this contract, Samsung Heavy Industries’ cumulative order performance for this year will total $10 billion, including 32 merchant vessels and 2 floating liquefied natural gas (FLNG) units.

This is the result achieved in five years since 2021, when orders for merchant vessels poured in on the back of the global economic recovery. As of now, the order value is at about 72% of this year’s full-year target of $10 billion, further increasing the likelihood of meeting the annual goal.

The key driving force behind this performance is cited as its “Two-Track” strategy, which targets both the merchant vessel and offshore sectors at the same time. This is because the company has continuously secured work in the merchant vessel sector—such as high-value LNG carriers and crude oil tankers—while also repeatedly landing profitable FLNG projects, thereby expanding the scale of its performance.

A Samsung Heavy Industries official said, “Reaching the $10 billion milestone in five years was possible because the order rally in the merchant vessel segment and large offshore projects such as the 2 FLNG units became a solid backbone,” adding, “We will further strengthen our ability to respond to market volatility and build a stable management foundation by solidifying our business structure spanning merchant vessels and offshore operations.”

Business Korea reporter Heo Seong-su (pr@businesskorea.co.kr)