Samsung Heavy wins US$1.44 bln order for two drill ships

SEOUL, Nov. 20 (Yonhap) -- Samsung Heavy Industries Co., the world's
second-biggest shipbuilder, said Thursday that it has received a contract worth
US$1.44 billion to build two drill ships.
The deal with a European client calls on Samsung Heavy to deliver the vessels
used for deep-water oil exploration by March 2012, the shipbuilder said in a
regulatory filing without identifying the buyer. The vessels will be used for
drilling activities off the coast of Brazil, it said.
The contract comes as shipbuilding orders have fallen sharply on a global
economic recession. With the deal, Samsung Heavy exceeded its yearly target of
$15 billion worth of orders, it said.
The shipbuilder said it expects to win more offshore orders from European and
American clients by the end of the year, bringing its total orders for this year
to more than $16 billion.
Samsung Heavy has won $10.2 billion worth of contracts for drill ships, floating
and storage facilities and other offshore products this year.
Shares of Samsung Heavy were trading at 17,900 won on the Seoul bourse as of 1:50
p.m., down 1.65 percent.
sam@yna.co.kr
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