이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Samsung Heavy finds new buyer for canceled drilling rig order
- Collected
- 2018.01.30
- Distributed
- 2018.01.31
- Source
- Go Direct
The world’s third largest shipbuilder by order book said in a regulatory filing on Monday it sold the drilling rig to an unidentified European company at $500 million. It plans to deliver the rig by the end of this year.
Korean shipyards that dominated offshore drilling orders have been hit hard by the global oil slump.
In June 2013, Samsung Heavy won an order from Sweden’s Stena to build the semi-submersible drilling rig for $720 million and received $215 million in advance payment. But the project was delayed due to Stena’s repeated demands for design changes, according to Samsung Heavy.
In June 2017, Samsung Heavy asked Stena for an extended deadline and billed the costs for the delay but Stena responded by terminating the contract, blaming the shipbuilder for the delay in delivery. The case is still pending at an arbitration court.
Samsung Heavy booked the potential loss of 195.4 billion won ($182.7 million) in its financial statement of the second quarter of 2016. The company claims it will break even by selling off the facility.
The shipbuilder hopes to sell half of its six under-construction drill ships whose delivery has been delayed in similar terms.
“We’re already seeing a number of suitors for our latest drill ships so we hope to conclude the sale soon to resolve the risk of non-payment,” said an official from Samsung Heavy.
As of 2:26 p.m., shares of Samsung Heavy were down 1.87 percent at 9,430 won.
By Woo Je-yoon and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]