Samsung Heavy Industries (SHI) has recorded a fall in profit in the third quarter ended 30 September 2015, due mainly to a delay in the construction of offshore facilities and the industry-wide downturn.

The Export-Import Bank of Korea (Korea Eximbank) and Samsung Heavy Industries (SHI) have agreed to help debt-ridden Sungdong Shipbuilding & Marine Engineering overcome its financial instability, reports said.

South Korea’s Samsung Heavy Industries (SHI) posted a deep loss of KRW1.1trn ($949.1m) in the second quarter as its core offshore business faces challenges on lower oil prices.

Samsung Heavy Industries (SHI) has revealed it is to build three shuttle tankers for Teekay Offshore Partners, at a total price of $365m.

The merger of Samsung Heavy Industries (SHI) and Samsung Engineering has been cancelled as shareholders in both companies opposed the move.

Wärtsilä is providing gas handling systems first ever VLECs to be built at Samsung Heavy Industries (SHI) in South Korea for India’s Reliance Group.  

Samsung Heavy Industries (SHI) has won an order worth $620m to construct three LNG carriers for an unnamed Asian shipowner.

South Korea’s Samsung Heavy Industries (SHI) has won an order worth $440m to construct three ice-class shuttle tankers for Russia’s state shipping firm Sovcomflot.

Samsung Heavy Industries (SHI) has announced it is to merge with engineering, procurement and project management firm Samsung Engineering on 1 December for around $2.5bn, as offshore takes the fore in future business plans.

Shell’s ambitious Prelude Floating LNG project has seen a major step forward after the giant turret module, the world's tallest at almost 100 m high, set sail from Dubai bound for Samsung Heavy Industries' Geoje yard in South Korea.