PaxOcean Engineering Zhoushan Co.Ltd (POEZ) will undertake a large oil tanker project for the first time.
According to Trade Winds, Samsung Heavy Industries has just subcontracted four Suezmax tankers to POEZ, making it another shipyard to enter the large tanker construction field.
On November 1, Samsung Heavy Industries announced the signing of a contract for the construction of four Suezmax tankers with a total value of 459.3 billion won (approximately $333 million). The new vessels are expected to be delivered by December 2027.
The order for the four tankers comes from Dynacom Tankers, a subsidiary of Greek king George Procopiou, with a specification of 158,000 dwt.
PaxOcean Group (PaxOcean) is a member of the Kuok Maritime Group (KMG) which is part of Kuok Group Singapore (KGSg). PaxOcean owns and operates five shipyards located in Singapore, China and Indonesia. First established in 2007 in Singapore, PaxOcean offers a wide range of services covering integrated solutions, newbuilding, module engineering and fabrication, green recycling, repairs and conversion of conventional and renewable energy assets.
POEZ has been in operation since 2010 and has one 500,000-ton slipway (400m * 106m * 13.7m), one 400,000-ton slipway (380m * 80m * 13.7m) and two 12-meter-deep ship repair wharves ( with a total length of 976m). The dock is capable of accommodating ULCCs, VLOCs, FPSOs, all types of vessels up to 400,000 DWT, and container vessels up to 16,000 TEU.
As of now, POEZ has orders for more than 20 ships, with delivery scheduled until 2028.