Sw Lee News

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.