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Two more orders secured, surpassing $10 billion! Samsung Heavy Industries’ order intake hits a five-year high.

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By Linh Nguyen, linh nguyễn
| World Ports Organization
South Korea’s Samsung Heavy Industries has achieved cumulative orders exceeding USD 10 billion this year, setting the highest record for the same period since 2021. On July 8, Samsung Heavy Industries announced the signing of a contract with a Bermuda-based shipowner for the construction of two crude oil tankers, with a total contract value of KRW 284.9 billion (approximately USD 189 million, RMB 1.282 billion), equivalent to a unit price of USD 94.3 million per vessel.
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Oil prices rise more than 3% amid new US-Iran military strikes near Hormuz

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By Linh Nguyen, linh nguyễn
| World Ports Organization
Oil prices climbed by more than 3% on Monday 13 July following renewed military exchanges between the US and Iran, prompting concerns over the security of global energy shipments through the Strait of Hormuz. By 07:43 GMT, Brent crude futures had increased by $2.67, or 3.51%, reaching $78.68 a barrel (bbl), reported Reuters. Meanwhile, US West Texas Intermediate (WTI) crude had risen by $2.48, or 3.47%, to $/bbl. Over the weekend, both US and Iranian forces carried out strikes in the Gulf region.
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Kevin Price takes over as President of Georgia Ports

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By Linh Nguyen, linh nguyễn
| World Ports Organization
On 1 July, Kevin Price took up his post as the new president of the Georgia Ports Authority (GPA). In August next year, he will take over the role of CEO from Griff Lynch who will then retire. Price had already been announced as the new chairman of the Port Authority back in February, and he has now taken up the post. He will report to Lynch before succeeding him as CEO with effect from 1 August 2027.
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