Samsung Heavy Industries receives major order of 2 trillion won

Samsung Heavy Industries recently obtained an order of 2 trillion won, exceeding accumulated order backlog of 10 billion U.S. dollars (equivalent for 11.877 trillion won). Korea Shipbuilding and Offshore Engineering (KSOE), the holding company for Hyundai Heavy Industries, also won an order of 400 billion, continuing the winning streak in the second half of the year. .

Samsung Heavy Industries announced on Monday that it signed orders for seven shuttle tankers with ship owners in the Eurasian region for block, equipment, and design supply contracts worth 1.7 billion dollars (around 2.0453 trillion won). Shuttle tankers are ships designed for oil transport from an offshore oil field, which can be immediately loaded onshore and transported to oil facilities. 　

With the recent win, Samsung Heavy Industries acquired orders totaling to 71 ships this year: 13 LNG tankers, 44 container ships and 14 oil transport tankers (including shuttle tankers). The order amounts to 10.3 billion dollars, which exceeds annual target (9.1 billion dollars) by 13%. It is the first time for the company to exceed 10 billion dollars in orders since 2007, when it hit 12.6 billion dollars. 　

KSOE also announced that it received orders equivalent to 416 billion won for two ultra-large container ships from a company located in the Marshall Islands. The company overachieved annual order target (14.9 billion dollars) by 133%, obtaining orders for 204 ships totaling worth to 19.9 billion dollars. The shipbuilding industry predicts that the industry will remain strong for the longer term, driven by growing orders for eco-friendly ship orders.


Dong-Jin Shin shine@donga.com