Samsung Heavy Industries Bags Shuttle Tanker Order from AET

South Korean shipbuilder Samsun Heavy Industries (SHI) revealed that it has won another 152,700 DWT suezmax-sized shuttle tanker from Singapore's AET.

This is another order from the shipowner who ordered a quartet to SHI in May 2018. The price is not disclosed in detail but recorded a slight increase.

SHI has been leading the shuttle tanker market since it built Korea's first shuttle tanker back in 1995. SHI including the latest order has won 59 out of 133 ordered globally, dominating the speacialized tanker market with 44% market share.

SHI won all 14 shuttle tankers ordered in 2017 and 2018. Since 2010 SHI won 2 out of 3 (37 out of 54, 69%) shuttle tankers globally proving superior quality competitiveness.

A Samsung representative said "This order is a proof that SHI continues to be trusted by clients with leading technologies and outstanding track record." He added "SHI would continue firm leadership in the shuttle tanker market."

SHI won 0.8 billion US in just August 2018, and yearly total for 2018 now stands at 34 vessels and 3.7 billion USD.