Samsung Heavy adds shuttle tanker pair to its orderbook as its nears yearly target

South Korean shipbuilder Samsung Heavy Industries (SHI) has won a construction contract for two shuttle tankers, resuming its winning streak into the final weeks of this year.

Image courtesy Samsung Heavy Industries
Aurora Spirit the world’s first LNG dual-fuel shuttle tanker
Illustration; Image courtesy Samsung Heavy Industries

The shuttle tankers have been ordered by an undisclosed company from Oceania, which is paying KRW 346.6 billion ($255 million) for the newbuilding duo.

Samsung said that the shuttle tanker pair is scheduled for delivery by the end of June 2025.

The latest order brings SHI’s order backlog to 43 ships, these being the first shuttle tankers to be ordered this year. The company’s orderbook has been dominated by LNG carriers counting 30 LNG carrier orders year-to-date, followed by nine containerships and two gas carriers.

Two LNG carriers were ordered earlier this month from an undisclosed shipowner from Africa in a contract worth $446 million. The deal follows a massive ordering spree for LNG carriers reported in June when Samsung revealed contracts for 14 LNG carriers in a single day.

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The shipbuilder has almost reached its yearly target of $8.8 billion, currently standing at an orderbook worth $8.1 billion.

Samsung has been active on numerous fronts with respect to exploring vessel designs including ships running on alternative fuels, such as ammonia, hydrogen carriers and liquified carbon dioxide carriers (LCO2).

At the beginning of November, SHI revealed that it has secured approval in principle (AiP) from the classification society DNV for liquid hydrogen fuel cell system for ship propulsion.

The system uses the electric power generated by liquid hydrogen and polymer electrolyte fuel cells to propel a vessel.

SHI developed the system through joint research with domestic hydrogen-related companies.