Hyundai Heavy wins US$600 mln deal for 3 vessels

SEOUL, May 31 (Yonhap) -- Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Tuesday that it has won a US$600 million deal to build three liquefied natural gas (LNG) carriers. Under the deal with Dynagas Ltd. of Greece, the world's biggest shipbuilder will deliver the vessels by the end of 2013, the company said. The deal includes an option to build one more vessel. The ships can each carry 155,000 cubic meters of gas, it said. Hyundai Heavy said demand for LNG carriers is expected to recover from a years-long slump. London-based market researcher Clarkson Research Services estimated that global shippers are expected to place orders to build a total of 120 LNG carriers by 2015. Hyundai Heavy has won orders valued at $10.5 billion to build 42 ships so far this year, achieving 53 percent of its yearly order targets of $19.8 billion. Shares of Hyundai Heavy were trading at 487,000 won on the Seoul bourse as of 1:40 p.m., up 6.8 percent.