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Samsung Heavy bags 462 bln won LNG ship order

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(Globalpost/GlobalPost)

Samsung Heavy Industries Co., a South Korean shipbuilder, said Monday that it has clinched a 462 billion won (US$ 410 million) deal to build two liquefied natural gas (LNG) carriers.

Under the deal with a joint venture between SK Shipping Co. of South Korea and Japan's Marubeni Corp., Samsung Heavy will deliver the vessels with a capacity of 180,000 cubic meters each, starting from 2016, it said.

One of the two LNG carriers will be leased to French energy giant Total to carry shale gas from the Sabine Pass LNG terminal in Louisiana to South Korea.

The other LNG carrier will transport LNG from the Ichthys project off the northwestern coast of Australia to South Korea, according to Samsung Heavy.

So far this year, Samsung Heavy has won deals to build nine LNG-carrying ships. However, Samsung did not elaborate further on the value of the contracts.

SK Shipping has a 51-percent stake in the SK-Marubeni joint venture, with its Japanese partner holding the remaining amount. The joint venture will own and manage LNG carriers.

Philippines News agency

http://www.globalpost.com/dispatch/news/asianet/130415/samsung-heavy-bags-462-bln-won-lng-ship-order