South Korea's Samsung Heavy Industries (SHI) has clinched two big newbuilding deals with Rosneft in Russia.

The Russian energy company said it had signed deals for the construction of shuttle tankers and the designing of 15 new Arctic LNG 2 carriers at its Zvezda Shipbuilding Complex.

The two companies are forming a joint venture to build tankers of between 42,000 and 120,000 dwt at the far east plant.