Shuttle tanker

Samsung Heavy Industries has secured a contract to build three shuttle tankers worth KRW370.2bn ($330m) for Teekay Offshore Partners.

Each shuttle tanker will be 49m-wide and 293m-long with a carrying capacity of 155,000DWT. It will be used in an oil field off the east coast of Canada.

According to Samsung, the three oil tankers are planned to be delivered by February 2018 and are priced at about $110m per unit.

These tankers, which are used to transport crude oil that is extracted from marine oil fields to storage bases on the ground, are used in the North Sea, the east of Canada and the sea of Brazil.

Shuttle tankers are equipped with advanced position controlling technology, including the dynamic positioning system.

During this process, the tankers will not be affected by waves, winds and currents, and position themselves alongside the oil production facilities.

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"We expect to actually win an additional order, as this contract includes one optional unit."

Shuttle tankers are priced 1.5 times the cost of general oil vessels.

Samsung Heavy Industries member said: "We have been able to maintain the largest share of the global shuttle tanker market thanks to our advanced technology and rich experience. Shuttle tankers are high-value products.

"We expect to actually win an additional order, as this contract includes one optional unit."

On 1 June, Teekay Offshore has entered a new long-term contracts with a group of companies including Chevron Canada, Husky Energy, Mosbacher Operating., Murphy Oil, Nalcor Energy, Statoil and Suncor Energy to provide shuttle tanker services for their East Coast Canada oil production.

Image: A 150,000DWT shuttle tanker built by Samsung Heavy Industries. Photo: courtesy of Samsung Heavy Industries Co Ltd.