Business Deal Between Samsung and Taiwan

Samsung Heavy Industries Co., South Korea’s third-largest shipbuilder, said Wednesday that it has won a 1.18 trillion won (US$ 1.03 billion) deal to build 10 container vessels.

Under the deal with Taiwan’s Evergreen Group, Samsung Heavy will deliver the 8,000-TEU vessels by October 2014, the company said in a regulatory filing. TEU stands for 20-foot equivalent unit.

Shares of Samsung Heavy were trading at 30,150 won on the Seoul bourse as of 9:40 a.m., up 1.52 percent.

In July this year, Samsung Heavy won a deal from Evergreen, Asia’s largest container line, for 10 container vessels which along with the global economic recovery boosted shipment demand.

With the deal, Samsung Heavy has clinched deals worth $ 7.1 billion to build 70 vessels so far this year. The shipbuilder targets orders worth $ 8 billion this year. (PNA/Yonhap)

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