Daewoo Shipbuilding Projections 2007 Soar

Wednesday, July 11, 2007
In a sure sign that the shipbuilding boom continues, Daewoo Shipbuilding & Marine Engineering Co. announced that it has raised its yearly new order target to $17B, after surpassing its previous projection of $11B with orders for 13 new containerships from European owners. The containership order – worth almost $1.8B – sent the shipbuilder’s take this year to $11B and 84 vessels and offshore projects. The rise in the yearly projection from $11 to $17B is a nearly 55% increase compared to last year’s orders achieved. In line with this rise, DSME is planning to expand production facilities at the No. 2 dock, a plan which includes extending the dock by 190 m, and upgrading a gantry crane from the current 450 tons to 900 tons. When the expansion plan is finished, DSME will see as many as 10 additional vessels built in the dock.

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