Samsung Heavy Industries Co, the world's second-largest shipyard, said it received orders worth 2.27 trillion won (S$3.5 billion) to build drill ships and floating drilling rigs.
Yards in SKorea predict record earnings this year on demand for vessels.
Samsung Heavy will deliver two semi-submersible rigs to a customer in Russia for 1.08 trillion won by Sept 20, 2010, and two drill ships to buyers in Africa and in the Americas for 1.19 trillion won by May 31, 2011, it said.
The Seoul-based company announced the orders in separate regulatory filings yesterday.
Higher oil prices and global economic growth are encouraging BP plc, Total SA and other oil companies to increase spending on fuel exploration and production.
That's leading to a fifth consecutive year of record orders for shipyards in South Korea, the world's biggest shipbuilding country.
Samsung Heavy and larger rival Hyundai Heavy Industries Co led stock gains of South Korean shipyards higher yesterday on optimism vessel prices will continue to increase next year. Yards in the largest shipbuilding nation predict record earnings this year on demand for vessels.
Crude oil is headed for its biggest annual gain in five years as prices have risen 53 per cent this year.
Crude for February delivery traded nine cents lower at US$93.22 a barrel yesterday morning in New York Mercantile Exchange electronic trading.
On Dec 21, the contract gained US$2.25 to settle at US$93.31 a barrel, the highest close since Dec 12.
Samsung Heavy advanced 5.3 per cent to 40,900 won on the Seoul exchange, while Hyundai Heavy rose 4.6 per cent to 441,500 won. The benchmark Kospi index added 2 per cent.
Yards in SKorea predict record earnings this year on demand for vessels.
Samsung Heavy will deliver two semi-submersible rigs to a customer in Russia for 1.08 trillion won by Sept 20, 2010, and two drill ships to buyers in Africa and in the Americas for 1.19 trillion won by May 31, 2011, it said.
The Seoul-based company announced the orders in separate regulatory filings yesterday.
Higher oil prices and global economic growth are encouraging BP plc, Total SA and other oil companies to increase spending on fuel exploration and production.
That's leading to a fifth consecutive year of record orders for shipyards in South Korea, the world's biggest shipbuilding country.
Samsung Heavy and larger rival Hyundai Heavy Industries Co led stock gains of South Korean shipyards higher yesterday on optimism vessel prices will continue to increase next year. Yards in the largest shipbuilding nation predict record earnings this year on demand for vessels.
Crude oil is headed for its biggest annual gain in five years as prices have risen 53 per cent this year.
Crude for February delivery traded nine cents lower at US$93.22 a barrel yesterday morning in New York Mercantile Exchange electronic trading.
On Dec 21, the contract gained US$2.25 to settle at US$93.31 a barrel, the highest close since Dec 12.
Samsung Heavy advanced 5.3 per cent to 40,900 won on the Seoul exchange, while Hyundai Heavy rose 4.6 per cent to 441,500 won. The benchmark Kospi index added 2 per cent.