September 6, 2007

Samsung Heavy adds $1.3 billion to order book

Samsung Heavy Industries the world's second-largest shipbuilder, said Thursday (Sept. 6) that it has won deals valued at $1.3 billion to build five container ships and what it describes as "an oil-related vessel."

Samsung Heavy said it received the orders in Korean won as it seeks to minimize any foreign-exchange losses.

The contracts bring its total orders won this year to $15.2 billion, exceeding the company's annual target, Samsung Heavy said in a statement. It called the amount a record for any shipyard worldwide at this point of the year.

So far this year, the shipbuilder has won deals to build a total of 86 vessels, including 46 containerships, 23 oil tankers and six drill ships.