Samsung Heavy: Cancellation of $451 Mln FPSO Order (South Korea)

Samsung Heavy Cancellation of $451 Mln FPSO Order (South Korea)

South Korea’s shipbuilder Samsung Heavy Industries, has announced that it has received a notice of cancellation of an FPSO order from an undisclosed costumer.

The order for the Floating Production Storage and Offloading vessel was initially made on June 19, 2007, with scheduled delivery date set at September 30, 2010.  The delivery date was later postponed to December 31, 2012.

In a Korea Exchange filing issued Monday, Samsung informed that the notice of termination of the order, valued at 505 billion won ($471.71 million) came on Thursday, December 27, 2012.

 

Related:

Douglas-Westwood: Floating Production Expenditure to Double by 2017

Offshore Energy Today, January 1, 2013

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