Samsung Gets Orders for 14 Ships

According to reports, Samsung Heavy Industries Co., has received orders for 14 container ships worth $1.5 billion from three companies including Panama's Naviera Daniela SA and Greece's Danaos Shipping Co. Samsung Heavy will deliver the ships by November 2009, the said in a regulatory filing to the Korea stock exchange today. The orders today raise Samsung Heavy's total for the year to date to $6.9 billion, 90 percent of its 2006 target. The country's shipyards delivered 2.84 million compensated gross tons in the three months to March 31, 21 percent more than a year earlier. The companies are expected to deliver about 2 million compensated gross tons every quarter this year. Source: Bloomberg