Samsung Heavy and Hyundai Heavy win US$1.5b jobs


SEOUL: Hyundai Heavy Industries Co Ltd and Samsung Heavy Industries Co Ltd have won more overseas orders worth nearly US$1.5bil in total. 

Hyundai Heavy said it had secured a combined US$910mil in orders from ExxonMobil and ACT-OG of China. 

The ExxonMobil order, worth US$750mil, is for a floating production storage and off-loading facility to be completed by 2005 and installed offshore Angola. 

The US$160mil contract from ACT-OG, a joint venture comprising China BV, Chevron Overseas Petroleum, Texaco China BV and Operators Group, is for the construction of two offshore platforms and installation of sub-sea pipelines on a turnkey basis by 2004. 

Separately, Samsung Heavy said that it had obtained orders worth a combined US$580mil from three international companies for eight ships, including a liquefied natural gas (LNG) carrier and two oil tankers. 

Ras Laffan LNG Transport Ltd of Qatar has ordered one LNG carrier, and Samsung Heavy expects to receive orders for three more ships from the same company. 

The South Korean company said it had also secured orders for five container ships with a capacity of 81,000 twenty-foot equivalent units each from Seaspan Container Lines Ltd of Canada, and two oil tankers from Euroceanica CTGM SA of Italy. – AFX  

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