Samsung Heavy Industries Wins $341.1 Billion Order for Three Crude Oil Tankers...First Construction in Vietnam

Achieves Cumulative Orders Worth 7.2 Trillion Won This Year
Full Construction Outsourced to Local Shipyard in Vietnam
Diversifying Production Bases for Cost Reduction and Efficiency

Samsung Heavy Industries has secured an additional order for three crude oil tankers, bringing its cumulative order value for the year to over $5.2 billion (approximately 7.2 trillion won) as of October 24, 2025. These vessels are scheduled to be fully constructed at a local shipyard in Vietnam, marking an expansion of Samsung Heavy Industries' global production network from China to Southeast Asia.

On October 24, Samsung Heavy Industries announced that it had received an order for three crude oil tankers worth a total of 341.1 billion won from a shipowner based in Liberia. With this order, the company’s cumulative order value for the year has reached $5.2 billion. In the merchant ship division, Samsung Heavy Industries has achieved $4.5 billion-78%-of its annual target of $5.8 billion, while in the offshore division, the company is working toward its $4 billion target through projects such as the Coral Floating Liquefied Natural Gas (FLNG) facility and the Delfin FLNG project.

An oil tanker previously built by Samsung Heavy Industries. Samsung Heavy Industries

This order represents the first time Samsung Heavy Industries will utilize a local shipyard in Vietnam as a collaborative partner. The Geoje Shipyard will handle design and procurement of key equipment, while the actual construction of the vessels will be outsourced to the Vietnamese shipyard. This approach expands the company’s existing outsourced construction model, which is currently operated at the Zhoushan Shipyard in China, aiming to reduce labor costs and diversify geopolitical risks. Last year, Samsung Heavy Industries constructed eight crude oil tankers ordered by a Greek shipping company at the Zhoushan Shipyard in China, operated by Singapore’s PaxOcean Group.

Samsung Heavy Industries is developing the Geoje Shipyard as a hub for technology development and as a specialized shipyard for high-value-added vessels. Advanced products such as liquefied natural gas (LNG) carriers, eco-friendly container ships, and FLNG units are primarily produced at Geoje. In contrast, standard merchant vessels such as crude oil tankers are outsourced to shipyards in China, Southeast Asia, and small to mid-sized shipyards in Korea, thereby expanding the company’s global operations.

Night view of Samsung Heavy Industries Geoje Shipyard. The Asia Business Daily DB

Samsung Heavy Industries’ total order performance for this year includes seven LNG carriers, nine shuttle tankers, two container ships, two ethane carriers, nine crude oil tankers, and one offshore production facility (preliminary contract), totaling 30 vessels. The company is diversifying its order portfolio by encompassing both high-value-added and standard merchant vessels.

A representative from Samsung Heavy Industries stated, "We are expanding our global network through recent collaborations in shipbuilding with Swan Shipyard in India and a strategic alliance in maintenance, repair, and overhaul (MRO) with the U.S.-based Vigor Marine Group. We will continue to strengthen a sustainable and competitive production system in response to the rapidly changing market environment."

This content was produced with the assistance of AI translation services.