Hyundai heavy bags $850m order for 4 LNG carriers

Hyundai Heavy Industries Co., a South Korean shipbuilder, said Friday that it has secured a US$850 million deal to build four liquefied-natural-gas (LNG) carriers. Under the deal with Petroliam Nasional Berhad, known as Petronas, Hyundai Heavy will deliver the vessels starting during the second half of 2016, the company said in a regulatory filing. The vessel, 290 meters long and 48.9 meters wide, is capable of carrying 150,000 cubic meters of LNG, according to Hyundai Heavy. With this deal, Hyundai Heavy's total orders received come to $20.7 billion so far this year, achieving 87 percent of its annual target of $23.8 billion, it said. Shares of Hyundai Heavy were trading at 267,500 won ($249) on the Seoul bourse as of 10:10 a.m., up 0.75 percent from the previous session's close.