According to Korean media reports, Samsung Heavy Industries recently signed a dock booking agreement with American energy giant ExxonMobil (ExxonMobil) for 2+2 liquefied natural gas (LNG) dual-fuel powered shuttle tankers.
According to the report, if the order is formally signed, the first batch of 2 new ships is expected to be delivered in 2027, and if ExxonMobil chooses to enter into force 2 alternative ships, it will increase to 4. At present, details such as ship prices and specifications have not been announced, but according to the recent market**, Samsung Heavy Industries expects to receive orders worth about 400 million US dollars (about 532.8 billion won).
Last month, Maran Tankers, the oil company of Greece's Angelicoussis Shipping Group, signed a Letter of Intent (LOI) for the construction of three 158,000 dwt shuttle tankers with a total order value of 3900 million US dollars, the cost of a single ship is about 1The US$300 million is expected to be delivered to the shipowner in 2027 and will be chartered on a long-term basis by Brazil's state-controlled energy giant Petrobras.
According to Clarkson data, the recent market for 158,000 dwt carriers is $85 million. However, due to the need to transport the ** produced by offshore facilities such as floating production storage and offloading (FPSO) to land, shuttle tankers need to be equipped with equipment such as DP2 dynamic positioning system to receive GPS signals and maintain position, and the price of the ship will increase accordingly. In addition, if a dual-fuel propulsion system is adopted to reduce environmental pollutants, its construction cost will be higher than that of a conventional propulsion ship equipped with scrubbers.
It is understood that the last time Samsung Heavy Industries received an order for a shuttle tanker can be traced back to November 2022, when the cost of a single ship was about 1$293.8 billion.
Clarkson said that there are currently only five shuttle tanker orders in the world, which is a small proportion of the global fleet. With instability, including geopolitical risks, remaining high, the increased demand for tankers is likely to accelerate the pace of shipowners securing early deliveries in 2027. The 2027 delivery schedule of the world's major shipyards is about to be sold out, and the competition between shipping companies that want to deliver ships as soon as possible will become more intense.
While it is reported that the dockyard booking agreement was with ExxonMobil, since ExxonMobil is an energy company, it is likely that the actual construction contract will be with the shipowner. South Korean industry insiders believe that AET, Chandris, Minerva Marine, Seapeak, Tsakos Energy N**igation and other companies are likely to order ships from Samsung Heavy Industries after signing long-term leases with ExxonMobil.
"Not only South Korea, but also major Chinese shipyards are almost full of delivery schedules in 2026, so the new ships ordered this year will be delivered in the second half of 2027 or 2028," industry insiders said. It is likely that ExxonMobil has already signed the contract first, as the number of dockyards is decreasing in the first half of 2027 and the second half of 2027. ”