Report: South Korean shipbuilder cancels 3 LNG tankers for Russia

SEOUL, Jul 6 (PRIME) -- South Korea’s Korea Shipbuilding & Offshore Engineering (KSOE) has replaced three contracts for liquefied natural gas (LNG) tankers allegedly intended for Russia with new higher price contracts due to a lack of components, Yonhap News agency reported on Wednesday.

KSOE has not disclosed the initial ordering parties, but sources with the industry told the agency that they could have been Russian companies.

In May, Kommersant business daily reported that South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) broke a contract with Russian shipping company Sovcomflot on construction of three LNG Arc7 tankers on overdue payment.

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