Samsung Heavy Industries disclosed in a regulatory filing that it had won a contract to build three Suezmax shuttle tankers with an Asian ship owner on February 28, equivalent to USD 300 million (KRW 361 billion). These ships will be delivered by July 2022.

In 1995, SHI became the first Korean shipbuilder to construct a shuttle tanker. It currently boasts the larget market share in the world of 45%, having clinched orders for 64 out of 143 shuttle tankers placed to date.

"In order to solidify our market dominance, we will help ship owners further reduce operating expenses for ships with new smart technologis and make use of eco-friendly solutions for keeping pace with stricter regulations," said an official of SHI.

Meanwhile, SHI set this year's order target at $ 8.4 billion, which is 18% up from $ 7.1 billion it achieved last year.

About Samsung Heavy Industries

Samsung Heavy Industries has successfully completed many of the world's first and largest shipbuilding and offshore EPC projects, with sole aim to establish global leadership in each of the participating market segments.

Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets.

The company has developed and built the first Arctic Shuttle-Tanker and LNG-FPSOs in the world, and has pioneered new market developments by developing innovative products such as LNG-FSRU, and various ships for polar applications, Arctic Ice-Breaker Container Ships.

In the offshore facilities sector, the company has fortified its reputation through its excellent technology and rich experience, by successfully delivering the world’s largest semi-submerged offshore drilling platform.