Samsung Heavy signs deal for three shuttle tankers

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Samsung Heavy signs deal for three shuttle tankers

Samsung Heavy Industries said Monday that it has won a 361.1 billion won ($302 million) contract to build three shuttle tankers.

Under the deal with an Asian shipping company signed late last month, the Korean shipbuilder will deliver three Suezmax shuttle tankers by July 2022. Suezmax are the largest ships capable of transiting the Suez Canal in a laden condition.

Shuttle tankers, ships designed to deliver oil from an offshore oil field to a storage tank, are often expensive as they are equipped with high-tech positioning systems.

Samsung Heavy Industries said the shipbuilder is the leading player in the market, with a 45 percent share.

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