Three biggest shipbuilders secure major contract

Korea’s three largest shipbuilders said yesterday that they have won orders from a major global liquefied natural gas project. Daewoo Shipbuilding and Marine Engineering, Samsung Heavy Industries, and Hyundai Heavy Industries won orders to build 12 liquefied natural gas vessels from the Qatar RasGas III project. Daewoo Shipbuilding is to construct five vessels, Samsung four, and Hyundai the remaining three. The 12 vessels are collectively worth $2.9 billion, the Korean companies said.