Samsung Heavy wins Canadian deal

Samsung Heavy wins Canadian deal

SEOUL: Samsung Heavy Industries Co, South Korea's third largest shipbuilder, said on Sunday it won a US$140 million vessel order from Canada's Husky Oil Operations Ltd.

The South Korean shipbuilder will supply Husky Oil, part of Husky Energy Inc, with a 133,000-ton floating production storage and offloading vessel to be used at the White Rose oil field off the east coast of Newfoundland from the end of 2004, Samsung said in a statement.

Samsung said it plans to raise the proportion of orders for drilling rigs and other production vessels to 30 percent of its total by 2005.

Last year, Samsung saw sales rise to 4.11 trillion won ($3.12 billion) from 3.58 trillion won in 2000 on the back of new shipbuilding orders.

The company turned to a profit of 55 billion won from a 225.2 billion won loss in 2000. --Reuters