[비즈한국] Samsung Heavy Industries010140 has entered into a legal dispute with a shipowner regarding two crude oil tankers for which it terminated contracts. On the 6th, Samsung Heavy Industries announced in a regulatory filing that Thetis Lines Inc. and Gaia Lines Inc. have filed for an injunction against the company to prohibit the disposal and transfer of possession of the vessels. The case was filed on April 2, and the presiding court is the Tongyeong Branch of the Changwon District Court.
The claimed amount is 259.7 billion KRW, which is approximately 6.3% of Samsung Heavy Industries' consolidated equity of 4.095 trillion KRW as of the end of 2025. According to the filing, the plaintiffs argue that Samsung Heavy Industries' contract termination is unjust and have requested the court to prohibit the disposal and transfer of possession of the vessels until an arbitration award is reached.
The vessels in dispute are two crude oil tankers that Samsung Heavy Industries won as an order from an Oceanian shipowner on June 2, 2023. The original contract value was 227.5 billion KRW. Subsequently, on February 3 of this year, Samsung Heavy Industries announced a revision, stating that due to the shipowner's failure to pay the final installment, the contract for two vessels was reduced to one, and the contract value was adjusted to 114.8 billion KRW. Following this, on March 14, the company exercised its right to terminate the contract for the remaining vessel as well, citing the shipowner's failure to fulfill contractual obligations.
Samsung Heavy Industries stated that it plans to respond legally to the injunction. The company stated in the filing, "We plan to respond through our legal representatives in accordance with legal procedures," adding, "We consider our contract termination to be valid and believe the plaintiffs' claims are groundless."
This case demonstrates that beyond the expansion of shipbuilding orders, contractual disputes can arise during the vessel delivery and payment collection stages. On March 10, Samsung Heavy Industries announced it had secured an order for three crude oil tankers from a Bermuda-based shipping company for 400.1 billion KRW, and stated at the time that its cumulative order performance for the year reached 11 vessels worth 2.1 billion USD, with an order backlog of 137 vessels valued at 29.5 billion USD. It is clear that even amidst the recent trend of strong orders, the final installment payments and the fulfillment of individual contracts can become separate points of contention.