Samsung Heavy Industries said on the 16th that it signed a contract with HSG Sungdong Shipbuilding Co. to build two crude oil carriers on a full-ship basis. This is the second full-ship contract following two crude oil carriers last month. Full-ship construction means building the entire vessel, not just blocks.

Namgung Geumseong, shipyard head at Samsung Heavy Industries (left), and Kim Hyeon-gi, CEO of HSG Sungdong Shipbuilding Co. (right), pose for a commemorative photo after signing a crude oil carrier newbuilding contract at Samsung Heavy Industries' Geoje Shipyard. /Courtesy of Samsung Heavy Industries

Samsung Heavy Industries said HSG Sungdong Shipbuilding Co. can expand its business into full-ship construction through Samsung Heavy Industries while securing a stable workload. It also said this case of cooperation will take root as a co-growth model that strengthens the domestic small and midsize shipbuilding ecosystem, contributing to increased hiring in the South Gyeongsang region and revitalizing the local economy. Samsung Heavy Industries has the advantage of streamlining processes.

Namgoong Geum-seong, shipyard chief at Samsung Heavy Industries, said, "We will develop our business cooperation with HSG Sungdong Shipbuilding Co. as a model of exemplary growth representing K-shipbuilding."

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