SPOTD: Samsung Heavy Industries Shuttle Tanker

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Samsung Heavy Industries has announced the signing for a contract for three 155,000 DWT shuttle tankers, further solidifying its spot as the world’s top builder shuttle tankers worldwide.

Samsung Heavy said that the order came from an undisclosed shipper in the Americas and the contract was signed at the Nor-Shipping conference held in Oslo earlier this month.

Out of the 144 shuttlers tanker worldwide, the order marks the 43rd for SHI, giving it the world’s No. 1 market share with 37.7% of total orders.

The new tankers will measure 293 meters long and 49 meters wide, and will transport crude oil from offshore installations offshore the east coast of Canada to shore-based facilities.

Unlike traditional oil tankers, the shuttle tankers are equipped with dynamic positioning so they can maintain position alongside offshore oil production facilities.

The contract is worth US$330 million, according to SHI. The company said the advanced vessels are priced at approximately 1.7 times that of traditional tankers of the same size.

Delivery is expected for February 2018.

“We have been able to maintain the largest share of the global shuttle tanker market thanks to our advanced technology and rich experience,” Samsung Heavy Industries said in a press release. “Shuttle tankers are high-value products. We expect to actually win an additional order, as this contract includes one optional unit.”

Samsung Heavy Industries has recorded accumulated orders of about USD 2.9 billion, including orders for 11 oil tankers, 10 container ships and 2 LNG carriers.

The photo above is of the Brasil Voyager, a similar 150,000 DWT shuttle tanker built by SHI for Chevron for operation in the Campos Basin offshore.

Photo courtesy Samsung Heavy Industries