AsiaMiddle EastShipyards

Samkang M&T to build $400m shipyard in Iran

While all around it are struggling to get any orders, one South Korean yard is storming ahead with the best year in its history. Samkang M&T, previously a block manufacturer, last month won a debut ship order for three 6,600 dwt chemical tankers from compatriot Woomin Shipping worth a combined $47m.

On top of that it has just won its biggest contract ever. Samkang M&T has just signed a KRW 445bn ($400m) contract with Iranian shipbuilder Iran Shipbuilding & Offshore Industries Complex Co (ISOICO). Samkang M&T will build a whole new shipyard in Iran for ISOICO by September 2019.

South Korean manufacturing companies have been vying for plenty of Iranian business this year in the wake of sanctions being lifted on Iran.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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