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June 7, 2015

SHI to build 155,000dwt shuttle tankers for US shipping company

Samsung Heavy Industries has secured a KRW370.2bn ($330m) contract from a US shipping company to construct three shuttle tankers.

By Samseer M

SHI

Samsung Heavy Industries has secured a KRW370.2bn ($330m) contract from a US shipping company to construct three shuttle tankers.

The 293m-long and 49m-wide tankers will have 155,000dwt capacities, and are expected to be deployed in an offshore oil field off the east coast of Canada.

Samsung Heavy Industries member said: "We have been able to maintain the largest share of the global shuttle tanker market thanks to our advanced technology and rich experience.

"Shuttle tankers are high-value products. We expect to actually win an additional order, as this contract includes one optional unit."

Delivery of the vessels is expected to be completed by February 2018.

Shuttle tankers transport crude oil extracted from marine oil fields to storage bases on the ground and these vessels are widely used in the North Sea, the east of Canada and the sea of Brazil.

"We have been able to maintain the largest share of the global shuttle tanker market thanks to our advanced technology and rich experience."

The tankers will be equipped with advanced position controlling systems such as dynamic positioning systems in order to help the vessel maintain its location at sea.

This solution will enable the tanker to stable its position alongside the oil production facilities without being affected by waves, winds and currents.

With this new order, Samsung Heavy Industries has recorded orders for 43 shuttle tankers, the company stated.

The company reported contracts worth approximately $2.9bn, including 11 oil tankers, ten container ships and two LNG carriers.

In April this year, Samsung Heavy Industries secured a contract worth around $951.6m from Orient Overseas for the construction of six mega-20,000TEU container ships. In addition, the company agreed a $619.6m contract with Mitsui OSK Lines (MOL) for the construction of four 20,000TEU containerships.


Image: A 150,000dwt shuttle tanker built by Samsung Heavy Industries. Photo: courtesy of Samsung Heavy Industries Co.

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