South Korea's leading shipbuilder has secured a deal worth 390 billion won, or 360 million U.S. dollars, to build four shuttle oil tankers for a Singaporean company.

Samsung Heavy Industries says its deal with Singapore's AET is for four vessels by October 2020.

Shuttle tankers transport oil from offshore oil fields to a storage tank using a variety of offloading equipment.

Samsung's shuttle tankers are expected to be equipped with a state-of-the-art Dynamic Positioning System, which helps vessels maintain their position on seawater.