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    Shipyard gets biggest
    order for the year

    HONG KONG—Samsung Heavy Industries Co., the world’s second-largest shipyard, said it will build eight large vessels worth $1.37 billion, its biggest order this year.

    The ships, which can each carry 12,600 20-foot standard containers, will be delivered to Zim Integrated Shipping Services Ltd. of Israel by July 2012, Seoul-based Samsung Heavy said in an e-mailed statement today. The ships will each be 360 meters long, more than the length of three soccer fields.

    Samsung Heavy, Daewoo Shipbuilding and Marine Engineering Co. and other South Korean shipyards may win record orders for a fifth straight year helped by a wave of contracts for large container vessels. Orders pending with the shipbuilders are estimated to keep them busy for four years.

    Samsung Heavy has developed the capability of building the world’s biggest container vessel, which can carry 16,000 boxes, according to the company’s statement today. It is looking for customers for the ships that will be as long as four soccer fields, the company said.

    Shares of Samsung Heavy gained 2.7 percent to 56,200 won as of 11:21 a.m. in Seoul. The stock has more than doubled this year, making it the fifth-best performer among 50 top companies traded on South Korea’s Kospi index. ---Bloomberg

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    Shipyard gets biggest order for the year

    HONG KONG—Samsung Heavy Industries Co., the world’s second-largest shipyard, said it will build eight large vessels worth $1.37 billion, its biggest order this year.

    read more