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Tuesday, March 3, 2020 

Samsung Heavy Industries has won a contract from an Asian ship owner to build three Suezmax shuttle tankers, with a contract value equivalent to US$300 million (KRW 361 billion), for delivery by July 2022.

In 1995, SHI became the first Korean shipbuilder to construct a shuttle tanker. It currently boasts the largest market share in the world of 45%, having clinched orders for 64 out of 143 shuttle tankers placed to date.

"In order to solidify our market dominance, we will help ship owners further reduce operating expenses for ships with new smart technologies and make use of eco-friendly solutions for keeping pace with stricter regulations," said an official of SHI.

Meanwhile, SHI set this year's order target at US$8.4 billion, which is 18% up from the US$7.1 billion it achieved last year.

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