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Hyundai Heavy bags another FSRU deal

All News 08:54 February 10, 2017

SEOUL, Feb. 10 (Yonhap) -- Hyundai Heavy Industries Co., a major shipyard in South Korea, has secured a deal from a Turkish consortium to build a floating storage regasification unit (FSRU), industry sources said Friday.

The deal follows last month's similar deal from a Norwegian firm to build one FSRU.

Under the current contract, Hyundai Heavy has an option to build one more FSRU, whose price is currently estimated at US$230 million, the sources said.

Recently, local shipbuilders have secured orders to build four FSRUs in total.

Last month, Samsung Heavy Industries Co. won a $230 million deal to build an FSRU, and Daewoo Shipbuilding & Marine Engineering Co. has signed a letter of intent with a U.S. firm to build up to seven FSRUs.

Daewoo Shipbuilding did not reveal the terms of the contract, but industry sources said the deal may fetch up to $1.6 billion.

"Local shipyards are positioned to receive more FSRU orders as their competitiveness is the best in the world," a source said.

Hyundai Heavy bags another FSRU deal - 1


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