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Samsung secures $500m order

Samsung secures $500m order
South Korean shipbuilder Samsung Heavy Industries has added to its burgeoning orderbook this year after confirming a $500m deal today for nine aframax tankers from an unidentified Greek owner.

Samsung Heavy secures $500m tanker order

South Korean shipbuilder Samsung Heavy Industries has added to its burgeoning orderbook this year after confirming a $500m deal today for nine aframax tankers from an unidentified Greek owner.

The contract includes an option for three more tankers that has to be confirmed within the next month.

The 115,000 dwt vessels are due for delivery between late 2011 and mid-2012.

A Samsung Heavy spokesman said: "We expect to win more deals as orders for oil vessels, including drillships and floating facilities, are on the rise amid increasing crude prices."

The latest pact follows an $130m order from Nordic American Tanker Shipping earlier this month for a brace of 158,000 dwt suezmax tankers for delivery by the end of 2011.

Samsung Heavy also confirmed the $1.2bn price with Shell in April for the construction of the hull of a floating liquefied natural gas production vessel under a master agreement signed last July. The shipbuilder would negotiate the price of the topsides later this year.

The orders take the total value of newbuilding contracts placed with Samsung Heavy this year to almost $2.6bn, equivalent to around 33% of its total order target of $8bn. The shipbuilder"s order backlog stands at around $42bn.

www.turkishmaritime.com.tr

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