Samsung Heavy Industries is forming a joint venture with Russia's new Zvezda shipyard to build shuttle tankers.
The two companies have signed an agreement to establish an operation by the end of this year that will create "an efficient project management system" for ships of between 42,000 dwt and 120,000 dwt.
Russian energy company Rosneft, which part-owns Zvezda with Gazprombank, said: "The agreement terms include exchange of experience in designing and construction of shuttle tankers."
