SHI to Enter USD 2.5 Bn FLNG Construction Project?

Image Courtesy: Samsung Heavy Industries

South Korean shipbuilder Samsung Heavy Industries (SHI) is very close to signing a USD 2.5 billion deal to construct a floating liquefied natural gas (FLNG) facility for Italian oil and gas company Eni, Yonhap News Agency cited industry sources. 

SHI is leading a consortium consisting of French multinational Technip and Japan’s JGC in the project worth USD 5.4 billion.

Eni placed the order and SHI has been in negotiations with this company since Q1 2016 on detailed business plans, according to Yonhap.

The USD 2.5 billion deal will be beneficial for the financially-troubled company that has not seen a single new shipbuilding order in 2016.

SHI submitted a self-rescue plan to its creditors in May this year, which calls for 1,500 early retirements by the end of the year and the sale of USD 170 billion worth real estate assets and the sale of the company’s stake in Doosan Engine.

Last week, SHI’s workers staged a sit-in protest in Seoul over the company’s restructuring plans that include massive layoffs.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

THE 30TH WORLD PORTS CONFERENCE Enabling Trade Energizing The World

This event is expected to have more than 500 attendees from the field of port, logistics, shipping and maritime industry…

read more >

Singapore Maritime Week 2017

Singapore Maritime Week (SMW) is the leading maritime event in Singapore. Driven by the Maritime and Port Authority of Singapore (MPA), SMW…

read more >

Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

In addition to exceptional networking opportunities, Breakbulk Europe provides a dynamic conference, along with a range of educational and training workshops — intensive all-day classes held the day before the exhibition opens as well as many on-the-floor sessions.

  • Over 7,600 participants attended Breakbulk Europe 2016
  • Meet with over 400 exhibitors and sponsors
  • Hear from industry experts, including leading shippers, during the conference sessions
  • Learn new skills in the educational workshops held before the exhibition and on-the-floor micro-seminars and exhibitor-led sessions during the event

More info

read more >

Smart Operations

Smart Operations events, from Fathom Maritime Intelligence, examines how to use intelligent shared integration, and connected operations…

read more >