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Daewoo Shipbuilding claims progress in talks with Angola's Sonangol

All Headlines 14:52 November 15, 2018

SEOUL, Nov. 15 (Yonhap) --The head of Daewoo Shipbuilding Marine & Engineering Co. on Thursday heightened the prospect that the world's second-largest shipbuilder by orders could work out differences with Angolan state oil company Sonangol over a delay in the delivery of two drill ships.

"Talks have been under way and there is a good prospect," CEO Jung Sung-leep said in a news conference in central Seoul.

Still, he did not give any further details, citing a confidentiality agreement with Sonangol.

Daewoo Shipbuilding has said it could receive about 1 trillion won (US$885.4 million) in payment from the Angolan oil firm for the delivery of the two ships.

The delivery had been originally scheduled for June and July in 2016 but was delayed due to Sonangol's financial status.

Daewoo Shipbuilding Marine & Engineering's main office building in Seoul (Yonhap)


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