Samsung Heavy Wins US$1.5 BLN Container Vessel Order

Samsung Heavy Industries Co., the world's second-largest shipyard, said Monday that it has received an order to build nine container vessels for 1.58 trillion won (US$1.5 billion). The deal with United Arab Shipping Company (UASC), the largest operator of ocean-going vessels in the Gulf calls on Samsung Heavy Industries to deliver the vessels by November, 2011, the company said in a regulatory filing. Shares of Samsung Heavy Industries were trading at 37,850 won on the Seoul bourse as of 10:09 a.m., up 0.80 per cent.
Shipyards in South Korea, the world's largest shipbuilding nation, have won record orders over the past few years as demand for vessels to carry fuel and consumer goods has outstripped supply.

Source: Yonhap