Samsung rakes in the orders

Samsung Heavy Industries has won orders worth $1.01 billion from Canada’s Teekay Shipping to build four LNG carriers for delivery by end June 2008. They will be used to carry LNG produced in Qatar to North America in a joint venture run by state-owned Qatar Petroleum and ExxonMobil. The 217,000 cubic metre gas tankers will measure 315 metres in length, 50 metres in width and 27 metres in depth.

With the deal, Samsung’s backlog of orders reached more than $13 billion of which 72% so far this year are for LNG carriers or other high-priced projects.

Samsung also won an order from Stena in Sweden for two drill ships including one option at a contract price of $500 million per unit. The 97,000 DWT vessels will measure 228 metres in length, 42 metres in breadth, have a depth of 19 metres and be able to drill to the depth of 11,000 metres. The drill ships will be equipped with a dynamic positioning system, will have a service speed of 12 knots and are slated for delivery late 2007.