Daewoo: $1 Billion In One Week Prompts Target Revise
Daewoo Shipbuilding has raised its 2001 order target to $3.7 billion from $2.5 billion, and said it was unlikely to accept orders in the second half because of its bulging order book, particularly for LNG carriers. "So far this year, we have received $2.6 billion in shipbuilding orders," said S.W. Lee, a Daewoo spokesman. "We also have order options worth $1.1 billion. "What is surprising is $1 billion worth of orders came in just last week," Lee said. Latest orders include four 6,750 TEU containerships ordered by NVA of Germany and an LNG carrier ordered by a North European shipowner that Daewoo officials declined to identify. Daewoo, the world's second largest shipyard, has secured eight orders for LNG carriers so far this year, including letters of intent, with six options, Lee said.
South Korean Yards Expected To Nab 75 Percent of LNG Orders
South Korean shipyards are expected to win about 75 percent of an estimated 48 orders for liquefied natural gas (LNG) carriers this year, industry officials said on Wednesday. "There are virtually no rivals to compete with Korean shipbuilders in making LNG carriers in terms of price and quality," said Yoo Jae-won, a spokesman for the Korea Shipbuilders' Association. Surging demand for environmentally friendly LNG was expected to raise the number of LNG carrier orders to around 48 this year from only 14 last year. "Korean shipbuilders are poised and look likely to grab most of the orders," Yoo said. Daewoo Shipbuilding and Marine Engineering, the world's second-ranked yard, said its LNG orders totalled 10 ships worth $1.7 billion so far this year, with options for 12 more.
