Samsung Heavy Industries won two more crude oil carriers. With this, it met this year's institutional sector merchant ship order target early.

Samsung Heavy Industries disclosed on the 3rd that it won an order worth 268 billion won for two crude oil carriers from a European shipping company. The order value applies the won-dollar exchange rate of 1,141.1 won on the contract date, on the 31st of last month.

Samsung Heavy Industries plans to deliver the vessels by the end of Aug. 2029.

An oil tanker previously built by Samsung Heavy Industries. Oil tankers are vessels that transport unprocessed crude oil directly. /Courtesy of Samsung Heavy Industries

With the additional order for two crude oil carriers, Samsung Heavy Industries recorded cumulative orders of 34 ships worth $5.8 billion in the institutional sector merchant ship category this year. It surpassed this year's order target of $5.7 billion.

By ship type, it won orders for 14 LNG (liquefied natural gas) carriers (including one LNG-FSRU), two ethane carriers, four gas carriers, two container ships, and 12 crude oil carriers.

So far this year in the institutional sector offshore category, it has built up cumulative orders of $10.2 billion, including two FLNG (floating LNG production, storage and offloading) units. That is 73% of the annual institutional sector offshore order target of $13.9 billion.

Samsung Heavy Industries said, "With ordering momentum continuing, centered on LNG carriers and crude oil carriers, this year's institutional sector merchant ship segment achieved its order guidance early," and noted, "We will focus more on selective orders centered on profitability and respond flexibly to changes in demand through global operations."

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