In today’s briefing:
- Samsung’s Vietnam Pivot: Small Deal, Big Signal
Samsung’s Vietnam Pivot: Small Deal, Big Signal
- SHI has signed an MoU with PetroVietnam Shipyard to build two Suezmax and two LR2 tankers, marking its first move into Vietnam.
- With Geoje running at 117% utilization, SHI has outsourced over 12 Suezmax tankers to PaxOcean Zhoushan and holds ~$3–3.5 billion in tanker backlog.
- While modest in scale, the Vietnam deal could reshape SHI’s outsourcing model—diversifying away from China and laying the groundwork for a longer-term shift in global production strategy.
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