Samsung inks shipbuilding contracts

SAMSUNG   CONTRACTS   SHIPPING

Asia - Samsung Heavy Industries has signed contracts to build ten container vessels and nine oil tankers.

The company revealed it won orders for ten units of 8,000 TEU container vessels from Evergreen for US$103 million per unit, and nine oil tankers for US$670 million from an unnamed Southeast Asian shipping company.

The contracts are worth US$1.7 billion in total, Motorship reports.

Hence Samsung has secured orders for 51 vessels worth US$5 billion this year, which is also 63% of its new order target of US$8 billion for 2010.

The shipbuilding industry is welcoming the new orders as a sign of recovery in the container vessel market. While the price of an 8,000 TEU-class container vessel was US$86 million earlier this year, Evergreen's order of US$103 million per unit has showed that prices are increasing.

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