Samsung to Build Previously-Cancelled Ships for Unidentified Asian Owner

SHI special purpose shipsIllustration; Image Courtesy: Screenshot from Wikimedia/Towel 401 under public domain license

South Korean shipbuilder Samsung Heavy Industries has found a new customer for the three special-purpose ships that had been canceled earlier this year.

The new contract with an unidentified Asian shipping company is worth KRW 409.6 billion (USD 363 million), the company said in a March 6 announcement.

The new buyer is scheduled to receive the ships by February 2021.

In early February this year, Samsung Heavy Industries informed that the initial contract for the special-purpose ships, signed with an undisclosed North American shipowner, had been cancelled.

At USD 366.1 million, the initial deal was worth some USD 3 million more than the second one.

As stated by Samsung in February, the contract was terminated due to the shipowner’s inability to meet the shipbuilding price payment deadline.

World Maritime News Staff

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