South Korean shipbuilders surge on giant Qatar LNG deal

By Mirza Duran Shares of South Korean shipbuilders surged on Tuesday following a landmark deal for Qatari liquefied natural gas carriers.

Image courtesy of DSME

LNG producing giant Qatar Petroleum said on Monday it signed deals with South Korea’s biggest three shipbuilders to secure more than 100 vessels worth about $19.2 billion.

This is the largest shipbuilding deal in the history of the LNG industry whereas QP secured about 60 per cent of the global LNG shipbuilding capacity through 2027.

Boosted by the big announcement, Daewoo Shipbuilding & Marine Engineering shares on Tuesday shot up 14.41 percent while Samsung Heavy shares rose 18.27 per cent.

Shares of Korea

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