Samsung Heavy celebrates massive $1.7bn order with delivery dates pushed back to 2027

The busy docks at Samsung Heavy Industries have just got a sizeable extra chunk of business with delivery dates an extraordinary six years away. The Korean yard confirmed today a massive $1.7bn order to supply blocks, parts and designs for seven shuttle tankers thought to be for Novatek in Russia, a deal that has been many months in the making.

The components will be delivered by early 2027 to be used for the Russian state-run natural gas producer’s Arctic LNG2 project.

Samsung Heavy has smashed its annual sales target in what is turning out to be a banner year for Korean shipbuilding in general.

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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