South Korea's Daewoo Heavy Industries says it has finalised two deals valued at a total US$200 million to sell three cargo vessels to a Canadian and one to a United States firm.

A Daewoo public relations official said it would sell three 2,800-teu (20 ft equivalent unit) container ships valued at $150 million to Canada Maritime and a 156,000-teu oil tanker to US-based OMI Corp. The deliveries would be made in early 1999.