en.Wedoany.com Reported - South Korea's Samsung Heavy Industries Co., Ltd. announced in early July 2026 that it had secured a new order worth 284.9 billion won (approximately $188.5 million) to build two oil tankers for a Bermuda-based shipowner. With this new contract, Samsung Heavy Industries' cumulative order value for 2026 has exceeded the $10 billion mark for the first time since 2021.
The two oil tankers under the latest order are scheduled for delivery by May 2029. To date, Samsung Heavy Industries has secured orders for 32 commercial vessels and two floating liquefied natural gas production and storage units (FLNG) this year, with a total contract value of $10 billion, achieving 72% of its annual order target.
Samsung Heavy Industries, one of South Korea's three major shipbuilders, is headquartered in Geoje City, South Gyeongsang Province. Its business covers the research, design, and construction of high-end vessels and offshore equipment, including crude oil carriers, LNG carriers, container ships, floating production storage and offloading units, and offshore drilling rigs. The company has long maintained a leading position in the global shipbuilding market, with strong technical capabilities in high-value-added vessel types and offshore equipment.
The breakthrough in orders comes against the backdrop of a new upward cycle in the global shipbuilding industry. As the international shipping sector accelerates its green transformation, demand for environmentally friendly, high-value-added vessels such as LNG carriers, ammonia-fueled ships, and methanol-powered ships continues to grow. Samsung Heavy Industries' technological expertise in LNG carriers and FLNG offshore equipment has secured it a large number of orders. Earlier, in April of this year, the company also announced its first-quarter 2026 results and provided an outlook for the second quarter.
Samsung Heavy Industries stated that it will continue to focus on the high-value-added vessel market, strengthen its technological competitiveness, and strive to exceed its annual order target. Reaching the $10 billion order milestone reflects the sustained recovery of the global shipbuilding market and the competitive advantage of South Korea's shipbuilding industry in the high-value-added vessel segment.
