Samsung Heavy Secures Newbuild Orders

27 April 2010 (Last Updated April 27th, 2010 18:30)

Samsung Heavy Industries (SHI) has received a $500m contract from a Greek shipping company to build nine oil tankers. The South Korean shipbuilder said the 115,000t vessels will be delivered by July 2012. The company expects to receive an additional order from the Greek firm f

Samsung Heavy Industries (SHI) has received a $500m contract from a Greek shipping company to build nine oil tankers.

The South Korean shipbuilder said the 115,000t vessels will be delivered by July 2012.

The company expects to receive an additional order from the Greek firm for the construction of three more vessels.

So far, SHI has received ship orders worth $2.5bn in 2010 and targets for $80bn newbuild orders.

The company’s order backlog has reached $42bn, it said.