[Asia Economy Reporter Jang Hyowon] Ilseung is showing strong performance. This is attributed to the news that final contracts for LNG ship orders by domestic large corporations are expected to be concluded.
As of 9:45 AM on the 15th, Ilseung is trading at 3,595 KRW, up 0.98% compared to the previous day.
According to industry sources, with the restart of the Mozambique project, final contracts for LNG ship orders by Hyundai Heavy Industries and Samsung Heavy Industries are expected to be concluded by July next year. At the end of 2020, Hyundai Heavy Industries and Samsung Heavy Industries signed Letters of Intent (LOI) for the construction of 9 and 8 LNG ships respectively from the shipowner, but final contracts had not been concluded.
In this final contract, the contract price is expected to be higher than previous estimates. The newbuilding price per ship is anticipated to be 260 million USD, exceeding the initial order price of 180 million USD in 2020.
Meanwhile, Ilseung is a company primarily engaged in manufacturing ship equipment and parts such as LNG regasification facilities and selling related materials. Ilseung is known to be steadily increasing its participation in global project bids for LNG regasification facilities, reflecting a consistent rise in demand.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
