[Courtesy of Samsung Heavy Industries]
South Korea's Samsung Heavy Industries Co. said Friday it has clinched a deal from a European client to build two LNG (liquefied natural gas) carriers. It was the shipyard's first order in 11 months. The deal was estimated at 420 billion won (380 million US dollars).
Monaco-based Greek outfit GasLog is coming in for up to six LNG carriers at Samsung Heavy, a deal that could be worth as much as $1.2 billion, according to Splash 24/7, an international maritime and shipping news provider.
Financing has been fixed largely out of South Korea for the deal, Splash said, adding GasLog already has a pair of similarly sized gas carriers on order at Hyundai Heavy Industries, the world's largest shipbuilder.
Like other major shipyards, Samsung Heavy, the shipbuilding arm of South Korea's largest conglomerate, Samsung Group, has revealed a painful self-rehabilitation package to overcome a global business slump and dwindling orders.
The troubled shipyard has been kept afloat with consistent help from other Samsung units, including Samsung Electronics which holds the largest stake of 17.62 percent in the shipyard.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
