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Samsung-Hyundai-ship orders

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(Globalpost/GlobalPost)

SEOUL, April 4 (Yonhap) -- Two major South Korean shipbuilders said Thursday that they clinched combined US$1.35 billion deals to build six LNG ships.

Under the deal with Bonny Gas Transport of Nigeria, Samsung Heavy Industries Co. will deliver four LNG vessels by June 2016, the company said in a regulatory filing. The value of the contract is estimated at around $900 million, the shipbuilder said.

Bonny Gas is a subsidiary of a joint-venture of Nigerian National Petroleum Corporation (NNPC), Royal Dutch Shell, Total S.A. and Eni.

In a separate filing, Hyundai Heavy Industries Co. also said it has won a $450 million deal from Bonny Gas Transport to build two LNG ships.

Shares of Samsung Heavy Industries closed at 32,900 won on the Seoul bourse, down 2.08 percent from the previous day's close, and those in Hyundai Heavy Industries dropped 1.97 percent to close at 199,500 won.

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