LNG

Jan 30 (LNGJ) - Samsung Heavy Industries, the South Korean builder of LNG carriers and other vessels, saw fourth-quarter net income plunge to 120 billion won ($111 million) versus 219Bln won in the same quarter a year ago, a drop of over 45 percent. SHI has had to set aside reserves against compensation for damage caused by the country's largest oil spill in 2007 when an SHI barge hit an oil tanker. For the year, SHI said its net income declined 6.4 percent. Annual net profit reached 796Bln won ($734 million) last year, compared with 851Bln won a year earlier.