South Korea: SHI Signs Shipbuilding Contract with CSAV

South Korean-based Samsung Heavy Industries (SHI) and Compañía Sud Americana de Vapores S.A. (CSAV) of Chile entered yesterday, April 15th, into a shipbuilding contract worth approx $576.5 Mln.

According to the contract, announced on KRX, the shipbuilder will build seven 9,300 Teu containerships for the Chilean shipper.

CSAV is going to finance the newbuilding order with 40% equity (about US$230 million) and 60% financial debt (about US$340 million). CSAV also has the option to order up to seven additional vessels on similar conditions.

The newbuilds are scheduled to be delivered from the end of 2014 till May 2015.

Related:

CSAV to Aquire New Containerships (Chile)

World Maritime News Staff, April 16, 2013; Image: SHI

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