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Friday, August 28, 2009

Big three Korean yards vie for Gorgon gas deals

Seoul: Hyundai Heavy Industries Co., the world’s biggest shipyard, and its rivals may end an eight-month dry spell with a slew of new orders after Australia approved the $42 billion Gorgon liquefied natural gas project, Bloomberg reports.
Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co., the world’s three largest yards, have bid for Gorgon contracts that may be worth as much as $6 billion, said Lee Sang Hwa, an analyst at Hyundai Securities Co., which isn’t affiliated with Hyundai Heavy. Gorgon partners Chevron Corp., Royal Dutch Shell Plc and Exxon Mobil Corp. may award orders as early as next month for the project off the Western Australian coast, Lee said. [27/08/09]