SHI: Huge LNG Order Cancelled (South Korea)

SHI: Huge LNG Order Cancelled

Samsung Heavy Industries (SHI) of South Korea has terminated a $2.39 billion order by FLEX LNG for four LNG FPSO vessels, the company revealed in a filling to the stock exchange.

One of the world’s largest shipbuilders said that the completion of the order, first made in 2008, had since been postponed as FLEX LNG had trouble financing the project in the aftermath of the global financial crisis.

GasLog recently announced that it has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy and also the company has taken delivery of an LNG carrier GasLog Shanghai from the South Korean shipbuilder.


LNG World News Staff, March 6, 2013