Samsung Heavy Industries has secured a contract worth 268 billion won ($187.7 million) to build two oil tankers, the company disclosed in a regulatory filing on Monday.
The deal reinforces the shipbuilder’s position in the crude carrier market, which has seen heightened activity as energy traders navigate persistent geopolitical risks in key shipping corridors.
Competitor Hanwha Ocean recently announced a similar contract for two very large crude carriers (VLCCs) valued at $264.
The order contributes to Samsung Heavy’s cumulative order book, which has surpassed $10 billion for the year.
This volume reflects broader industry trends where South Korean yards are capturing significant market share in large crude carrier construction.
Competitor Hanwha Ocean recently announced a similar contract for two very large crude carriers (VLCCs) valued at $264.7 million, indicating strong demand across the sector.
The timing of the contract aligns with continued concerns over shipping security in the Strait of Hormuz.