Wednesday, June 29, 2011

Samsung cruiseship signing impending

Samsung Heavy Industries is about to seal its first cruiseship newbuilding order, no later than this month.

The deal will be the first cruiseship order for South Korean shipbuilding industry.

Samsung president Ro In-sik recently said the company will soon sign a final contract with Utopia of the US to build a 100,000-gt cruiseship.

An official from the shipbuilder also confirmed that the companies are preparing to seal the deal within this month.

The final contract would be signed 19 months after Samsung signed a framework agreement with Utopia on November 30th 2009, when the US cruise line selected Samsung as the sole contract party for the construction of the cruiseship.

At that time the newbuilding price tag was said to be $1.1bn and sources say the final price would not be far from that.

Samsung's first cruiseship will be, so-called, an 'Apartment-Type' cruiseship.

Samsung has been steadily preparing for the cruiseship business since 1997 when it established a passenger ship division for the first time in South Korean shipbuilding industry. It has also accumulated know-how in construction division.

Meanwhile, if Samsung finalizes the Utopia cruiseship order by this month, it would have signed more than $12bn newbuilding orders in the first half of the year, over-achieving its annual order target of $11.5bn in just six months.

Its new order intakes so far this year include eight drillships, eight LNG carriers, 13 containerships, four shuttle tankers, one FPSO, one LNG-FPSO, offshore platform topsides and one offshore supply vessel.

Published : June 29, 2011

Source: Asiasis


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