Hyundai Heavy wins US$1.12 bln order for 2 drill ships

(ATTN: ADDS more details in paras 4-5; UPDATES share price in last para)
SEOUL, June 1 (Yonhap) -- Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Wednesday that it has won a US$1.12 billion deal to build two drill ships.
Under the deal with Rowan of the U.S., Hyundai Heavy will deliver the vessels used to find oil and gas wells in deep waters by June 2014, the company said in a regulatory filing.
Hyundai Heavy has won orders valued at $11.7 billion to build 44 ships so far this year, achieving 60 percent of its yearly order target of $19.8 billion.
Hyundai Heavy said it has won orders valued at $5 billion for nine drill ships so far this year, including three options.
The shipbuilder said it expects more orders for drill ships down the road as oil developers are spending big on resource development and more explorations are made in deeper waters.
Shares of Hyundai Heavy were trading at 506,000 won on the Seoul bourse as of 1:40 p.m., up 0.2 percent
sam@yna.co.kr