Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
By Elizabeth Low (Bloomberg) Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on...
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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