Hyundai Heavy clinches deal to build LNG carrier

Shipyard of Hyundai Heavy Industries is seen in Ulsan, about 410 km (255 miles) southeast of Seoul June 28, 2013. South Korea's growth momentum remained subdued in June, key government and private-sector data showed on July 1, casting fresh doubts about whether the trade-dependent economy can stage a firm recovery in the coming months. The indicators suggest that Asia's fourth-largest economy remains under pressure and that a gradual recovery forecast by local policymakers remains far from a certainty. Picture taken June 28, 2013.  REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: BUSINESS MARITIME)

Hyundai Heavy Industries Co. said Monday that it has secured a deal to build a LNG carrier, the latest in a series of its shipbuilding contracts.

Hyundai Heavy did not reveal the terms of the contract, but a deal to build a 180,000-cubic meter LNG ship is valued at some US$193 million, according to industry sources.

With the latest deal, Hyundai Heavy has received deals so far this year, valued at a combined $800 million to build a total of six ships, including two very large crude carriers and a floating storage and regasification unit.

Hyundai Heavy closed at 166,000 won on the Seoul bourse, down 0.9 percent from the previous session’s close.

Source: Yonhap



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