SEOUL (Dow Jones)–Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said on Monday it expects around $11 billion in new orders next year while earmarking about KRW500 billion ($437 million) for capital expenditure.
Daewoo Shipbuilding has secured $14.8 billion in orders this year, exceeding its target of $11 billion, helped by strong demand for offshore equipment like drill ships, a company spokesman said by telephone.
The company expects offshore equipment will account for 70% to 80% of orders in 2012. Demand for commercial ships like container carriers will remain low next year.
-By Kyong-Ae Choi, Dow Jones Newswires
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,142 members that receive our newsletter.
Have a news tip? Let us know.
A Russian Navy frigate equipped with new generation hypersonic cruise missiles has conducted drills in the English Channel and is carrying out tasks in the Atlantic Ocean, Russian news agencies reported on Tuesday.
(Bloomberg) — Chinese lawmakers got a head start on the US election this week as they gathered to vote on the largest fiscal package since the pandemic. But now that...
by Ossian Shine, (Reuters) – Germany’s Red Bandit, skippered by Carl-Peter Forster, was crowned winner of the 45th Rolex Middle Sea Race, becoming the third German yacht to win the prestigious offshore challenge. Following...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,142 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
