Samsung Heavy Says $776 Million order for FPSO Facility Cancelled

Samsung Heavy Industries. Photo: Lappino

SEOUL, Dec 2 (Reuters) – Samsung Heavy Industries Co Ltd said on Friday that a 907.6 billion won ($776.8 million) order for a substructure for a liquefied natural gas (LNG) floating production, storage and offloading (FPSO) unit has been cancelled.

The South Korean shipbuilder said in a regulatory filing that the order, which came from an unspecified European firm, was cancelled as the firm did not issue a work order by a deadline agreed upon.

A Samsung Heavy spokesman could not be immediately reached for comment.

($1 = 1,168.4100 won) (Reporting by Joyce Lee)

(c) Copyright Thomson Reuters 2016.

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