South Korea’s Samsung Heavy Industries (SHI) closed its third quarter with a $1.8 billion revenue and a $165 million operating profit, i.e. +13% and +99% compared to the same period last year.
Company executives explained that their operating profit results were driven by a downturn in sales of low-cost containerships and an increase in offshore sales.
According to SHI, its total sales for the year will exceed its initial $7.2 billion forecast at the beginning of 2025.
To date, SHI has received orders for 27 ships, worth a total of $5 billion, which is 51% of its $9.8 billion target for this year.
The company has received orders for an offshore production facility plus the following types of vessels: 7 LNG carriers, 9 tankers, 2 containerships and 6 oil tankers
Translation by Giles Foster
