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
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China said on Monday it had provided information and documents for an open investigation into the severing of two Baltic Sea undersea cables, though it and Sweden disagreed over how transparent Beijing had been in the case.
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