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Marine Log

February 14, 2007

Samsung books $400 million FPSO order

Korea's Samsung Heavy Industries Co. has received an order worth US$400 million order to build a floating production storage and off-loading ship for an undisclosed Norwegian owner.

Samsung says 58 percent of the deal (around 222 billion won or $236 million) is denominated in Korean won, as part of efforts to cut currency losses. The won gained around 9 percent against the U.S. dollar last year.

The ship is set for January 2010 delivery.

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